About the Author

Stephen Oakes is an experienced financial titan from New York who brings Wall Street to Main Street. Over the past 11 years, he has developed and tested the renown, Oakes Momentum System, which uses a unique constellation of technical indicators to find timely buy and sell points. He holds an M.B.A. in the United States (New York) and has studied internationally at the Reims School of Management in France.

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Dow Jones Industrial Average: Flexing Its Muscle

July 12th, 2007 • Related • Filed Under

As I write the Dow Jones Industrial Average (DJIA) is trending hard towards new heights, up 210.05 points at 13,787.92.

I’ve been touting the major markets here in the U.S. for quite some time now:

Dow Jones Just Getting Started…

Stock Market Update…

Now, as in the past, I continue to be extremely bullish. Today’s move justifies the technical outlook. As the major index begins to push the bollinger bands wider, expect strong momentum to carry the Dow until the very end of this decade.

A bold statement I know. But it’s one of those things where the confidence level rides high near 100%.

I would encourage you to take full advantage of this situation and continue buying until I notice a sell signal or divergence with RSI in the short-term.

DJIA

In the six-year quarterly chart above you’ll notice that the Dow is making new highs with the support of the MACD indicator, which just gave its buy signal not too long ago.

In the six-month daily chart below you’ll see that the Dow had been trading in a tight consolidation, or flagging pattern. The very last trading bar indicates that a breakout is underway and more gains should follow.

DJIA II

The ship has left port…
Are you on it?

There Are 3 Responses So Far. »

  1. Comment by Jakob on 27 July 2007:

    This is exactly what I expected to find out after reading the title Dow Jones Industrial Average: Flexing Its Muscle. Thanks for informative article

  2. Comment by Stephen Oakes on 27 July 2007:

    No problem! Glad to help out. I’ll keep monitoring everything as we go along here. Best of luck to you and your portfolio.

  3. Comment by Terry on 26 February 2008:

    Same here, i’m new in the market-

    Terry @ eFile