To go along with my bearish post on the SPY triangle pattern from yesterday, DIA looks to be making a head and shoulders pattern.
I have 4 circles on the chart, with the last 2 being peaks that could be "shoulders." There is also a triangle pattern forming similar to the one I saw in SPY, but not quite as well formed.
The volume is mostly supporting this pattern with successive drops in volume on the last 3 peaks. Also of note, on the days after a peak volume tends to be high with quite a large drop (which could just be said as a way of defining a clear peak).
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