For today's Mid-Day Minute, Mike writes: Have a look at the juxtaposition of the Dow Jones Industrial Average and its 200-day moving average today among other relationships.  As of this moment, the DJIA has poked its head below important support at 10,360/50, which represents the 200-day moving average and a 5-month horizontal price plateau.  A sustained breach of 10,350 should trigger downside acceleration that points to a next target zone in the vicinity of 9,940, and thereafter, a test of the October 2004 low of 9,708.  At this juncture, only a rally that climbs above 10,560 will neutralize my negative technical outlook.

MJP 04/14/05 12:45 PM ET (10,337)

Mike Paulenoff is a 25-year veteran of the financial markets and author of MPTrader.com, a real-time diary of his E-mini S&P and QQQQ technical analysis and trading alerts. For more of Mike Paulenoff, sign up for a FREE 30-Day Trial to his E-Mini/Index Futures diary, or try his QQQ Trading Diary.