Here is a chart of DIA (Dow ETF) since the March 23rd lows. Below that the DIA 30 minute chart which we have been following for the past few weeks illustrating how the Dow has retraced a highly reliable 50% of the initial drop from the mid-February all time high. The index has made no net progress for the past two weeks. The next big leg is down, but we won't know it has begun until 230 is taken out on the downside. If that red line resistance gets taken out first, we may step aside. Don't hold your breath.
