DOW’s strong break of 34179.07 resistance overnight was a clear near term bullish signal. The development suggests that correction from 36952.65 has completed with three waves down to 32272.64. A weekly close above near term falling channel resistance (now at around 34700) will solidify this case, and bring further rally to 35824.28 resistance next week.
At the same time, break of corresponding resistance of 4416.78 in S&P 500, and 13837.58 resistance in NASDQ, will also solidify overall near term bullish reversal in US stock markets.
