Negative Divergence For Dow Theory Watchers (UPDATE)

In mid April we posted the negative divergence between the Dow Jones Industrial Average (DIA) and Dow Jones Transportation Average Index (IYT).

Today we are updating the charts.

Original Chart

Updated Chart

CLICK IMAGE TO VIEW AT FULL SIZE

The Dow Theory guys must be worried that IYT broke the March swing lows.

If this area turns into major resistance the bears will be aiming for the 200DMA on DIA.