My near and intermediate-term work is warning me that the DIA (Dow Jones Industrial Average ETF) is establishing a significant low Friday and today just below 22.00, which if accurate, means that the price structure must be in early stages of a new upleg or a potent recovery rally period that points to 125.50 and then 127.00.



Mike Paulenoff is a 26-year veteran of the financial markets and author of MPTrader.com, a real-time diary of his technical chart analysis and trading alerts on all major markets. For more of Mike Paulenoff, sign up for a free 15-Day trial to his MPTrader Diary by clicking here.