Dow

[Hoop]

Bulls are back. If everything goes well Dow could pass 18,000 and 19,000 and could expect some of the active months in April and May in stock markets globally. Coming months are very crucial.

http://fortune.com/2016/03/04/dow-jones-17000-2/

Dow Climbs Back Above 17,000

Yes the bulls are doing well.... gone past the 17000/17200 road block zone after a little pause to recognize the resistances..and today it tested the breakout (17200) before the FED news. That bounce off the 17200 strengthens that new support.
The next test is the 4.5 month Primary down trend line currently at 17470.....This downtrend line (17470) is one of the big milestones, above it is the first confirmation (1st of 2) that this 2 month weakness is a bull market correction and not a bear down wave..

Before one puts their party hat back on... 2 things
1....Even though this milestone is close (<1%) The Dow still has to get above this confirmation point
2....The Bollinger Bands are tightening suggesting a near future change of trend (end of the rally) and/or change of acceleration.

Dow closed at 17325 +74 +0.43% with the news that the FED is softening its rate increase stance by holding rates steady and only seeing 2 rate hikes this year now