DOW fell 180 points last Friday on bad unemployment numbers to a low of 12.071. The last few hours a rally started and DOW closed at 12.770. In Asia today the market has been trading around that close.

The 2 hour downtrend is still in place and a retest of the low at 12.071 is possible. However today all traders should be back at their desks in the US and the technical picture does not give a clear indication where the short trend will go. The monthly trend is up, the weekly trend is mixed and the daily trend is up. This week could be very choppy without a clear trend the first two days.