The Dow Jones has been quite weak recently, even more so than the other two indices. I'm seeing bearish price action despite record earnings. Currently I believe a tentative short entry with a tight stop is warranted. The DJX recently broke down out of a bearish ascending wedge, but has since retraced into what looks like a bear flag. On the other hand we have a bullish ascending wedge that has been forming for quite sometime with no breakout.