The Dow Jones 30 rallies over the optimism about Q3 corporate earnings. The double bottom at 28700 is a sign of solid buying to keep the index afloat. A close above 30400 next to the 30-day moving average would flush out selling interests and possibly attract momentum buyers. As the bulls regain confidence, 31300 would be the next target with 29650 as a fresh support. However, this could be a mere flag-shaped consolidation from the daily chart’s perspective as the index is in bear market territory.
