There is still weakness in the DJIA, as shown in the chart, when it couldn’t surpass the shorter term resistance at 8600.  It has corrected from there and we are probably seeing a continuation of the consolidation.

The 50-day moving average is poised to cross above the 100MA giving us some sense of bullishness.  However, the 200MA is still a bit far off at 9073.

The MACD may be above the zero line but the fast line is below the slow line, meaning a correction is happening.  For those who have long positions, you may want to cash in on your positions for the moment.

Recommendation: Take profits
Resistance: 8445