After a long time Dow Jones is showing sign of reversal but if we see last few reversals then I have a feeling that now Dow may not drop more. In fact just around 14900–15000 ranges, it has a strong support. So if Dow has to hold on its recent trends then Dow will again show up move but question about higher ranges will come only when it will show strength above around 15350 ranges.
Some how that 15000 does not work then Dow has the chance for more correction and considering the uptrend which Dow showed during last couple of years a deeper correction cannot be ruled out. I think new long positions should be taken after considering the moves around 14900–15000 ranges.
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