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!

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