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.

Impressive Upmove in Dow (DJIA, DIA)


We have to be impressed with the relative strength of the DJIA, don't we? With oil prices above $70/bbl., growing perceptions of rising inflation, higher short and long term interest rates, and escalating tensions with Iran-- and yet the stock market- as measured by the DJIA remains EXTREMELY resilient! In fact, yest.'s decline actually pierced the Oct.-Apr. support line at 11,080, but follow-through selling pressure FAILED to emerge. Today's upmove is very impressive, and argues that yest.'s low at 11,039 likely ended the correction off of the 3/21 high at 11,335, which IF ACCURATE, means that the DJIA has started a climb to retest 11,335-- and possibly is in a new, powerful upleg that is destined for new all-time highs!

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

  • 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!