First picture is DOW 22 weeks which will get a cross on upside Monday with both MA's up. Second picture is the weekly chart from the all time high 2007 until now. Please click for bigger picture.
When Europe closed, DOW was at 12.984. After two hours on Wall Street the high came at 13.117.5 and the last hours there was a sideways trend before the close at 13.075.7. It is too early to draw any long term conclusions of this close. Next Tuesday we have the monthly close and I want to follow the markets a couple of days before making a long term forecast. However right now the monthly, weekly, daily and 2 hour trends are up and next target technically could be the 2012 high at 13.337.5 but this last jump could also be a bull trap. If the DOW should continue up there is a very strong resistance from the weekly closing double top at 13.233.5