$DIA

The Dow has potential support at prior resistance and its moving-average cluster, while travel and tourism remain in healthy consolidation above a rising 200-week average.

The Dow remains a short position despite intraday reversals, with overnight equity moves viewed as uninformative for the trade.

Dow remains a short positioning thesis, contrasting with a prospective long Russell hedge amid uneven post-Fed equity-market action.

Dow offers the preferred short because positioning is exceptionally crowded, the chart looks ugly, and it failed after the broader market’s initial CPI-driven rally.