Bulls must be very happy with the way Dow has recovered from its bottom in the last day of this week. In this moment around 14570 is the immediate resistance which Dow failed to break in the last day. Now Dow may show couple of flat moves in early days of the coming weeks.
So long Dow maintains 14400 range in the downside I think Dow has good chances to test more upside levels and that I am expecting in the middle days of the coming week. Here I must say if that upside movement happens, I will not consider that too convincing unless Dow continuously shows strength in those movements and it will be making lows above 14600 ranges.
If above prediction does not happen or Dow goes below around 14400 ranges then there is a good chance that Dow may test lower levels in later periods of the coming week. In that case I will not be surprise if Dow test levels around 14250 zones but that may not be totally for coming week.
It is long that I have mentioned about the bullish pattern of Dow Jones I.A. (in my October, 2012 posting) which it triggered few weeks ago.
In that October, 2012 review I predicted if Dow drops from levels above 14000 ranges then it has good chance to revisit 13000 ranges again. Though that was a very early prediction but if that type of bad thing happens now then 13000 will be a major support but in recent years we never saw such a big reversal in the downside for Dow. So in future I may like to upgrade that October, 2012 prediction.
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