The Situation

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Since we made almost a double top technical pattern (April 20 2016 and June 8 2016)
​on the Dow Jones Industrial ​Average ETF DIA, we are  ​into a lower highs and lower ​
​lows technical pattern... ​​(See 1rst Chart Below)
​
So DIA ETF is trading within a downtrend channel that started back since ​April 20 2016​.​ ​​
​(See 1rst Chart Below - Channel)

We closed on June 13 below the 20 DMA (Day Moving Average) then at 177.23 
​on  the DIA ETF ​​​(See 1rst Chart Below - Yellow Line - Ellipse),  but most ​importantly,
​below the 50 DMA.​​ (See 1rst Chart Below - Red Line)

The DIA ETF broke on June 13 2016 a Major Support Trendline from a huge rising wedge
​that started back on February 2 2016 on a rising volume. It was the first line of defense
​for Bulls ​​(See 1rst Chart Below - Red Trendline - Ellipse), the second line of defense define by the
​200 DMA (Day Moving Average). (See 1rst Chart Below - Green Line)

As we are broke that Major Support Trendline, in fact Bulls failed to break yet on a relative basis (ratio of DIA ETF over SPY ETF) the Resistance Line that started back since December 2011 as shown by the second chart below.​​ ​​​(See 2nd Chart Below - Top Red Trendline)  


But what puzzle me the most is that, a Big Divergence continue to prevail between the Dow Jones Industrial (DIA ETF) and the Dow Jones Transportation (IYT ETF): Is it a Warning from the Dow Theory?
  ​​​​(See  3rd Chart Below - Industrial Candles - Transportation Blue Line)

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