Mike's Mid Day Minute is available to members on Monday, Wednesday & Friday evenings, with one article per week available to non-members. Members please login and see "Mike's Mid Day Minute" in the navigation menu towards the top of the page.

Dow Diamonds (DIA) Consolidating

The DIAs are consolidating around 110.00, which represents a Bull Flag-type of pattern that should resolve itself in another pop towards a test of the May-July resistance line in the vicinity of 111.50/70. Only a sustained decline below 109 will begin to compromise the constructive upmove from Tuesday's low. From a longer perspective, the June-July lows could represent the two coordinates of a large Double Bottom, which will trigger a powerful upside breakout upon a hurdle of the 113.00 resistance plateau.

For more of Mike Paulenoff, sign up for a Free 15-Day Trial to his ETF Trading Diary.

  • Action-Oriented Trade Set-Ups in Stocks & ETFs
  • Macro Analysis of the Broader Markets
  • Detailed Technical Guidance for each Trading Idea
  • Live Interaction w/ Mike & Our Member Community
  • And Much, Much More!
Join Now! - Special Offer!
Veteran Wall Street analyst and financial author, Mike provides detailed and timely analysis and trade set-ups on a range of markets. Read more...

Have Mike's “Out Front” morning analysis delivered FREE to your email inbox twice weekly!