The Dow Jones Industrial Average set an all-time high of 13,692 on June 1 and it has been downhill ever since. By midday Wednesday, this major market average chopped off as many as 255 points from its record high.

This doesn't signal the end of the bull market. Not by a long shot. Every bull market has dips, pullbacks and corrections. But the Dow is off just 2% from its high and may fall as much as 5% to test the 13,000 level before this downdraft ends. So right now, there are a load of technically bearish ETFs out there.

All of the exchange-traded funds below meet our standards to be considered technically bearish. The five-day moving average is below the 10-day moving average. And the moving average convergence-divergence indicator has given a fresh sell signal within the last 10 days.

Unlike the bullish signal standards we use to look for ETFs that have made new highs in the last five trading days, the bearish standards don't require a new 52-week low.

While a new low would be nice, in a generally rising market, requiring a new low eliminates too many potential opportunities. Anyway, it is better to sell short high and cover low.

Big-name stocks taking a hit include Altria ( MO), off as much as 2.4%; Pfizer ( PFE), off 3.8%; and AT&T ( T ), off 2.0% from Monday's highs. These are major holdings of several different ETFs popping up on our bearish ETF screen. One of the best choices to sell short is iShares Morningstar Large Value Index Fund ( JKF).

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