DOW made a sudden powerful rally the last hour on Friday to close up at 13.203 just below an important R point. First hours in Asia the index tried to move higher but could not get above the daily close. Japan got worse economic numbers and the DOW fell to a low of 13.169. There it has been moving sideways for a couple of hours. All big trends are up and the 2 hour trend as well. However the picture now looks like the 1 hour trend could turn down soon and the 2 hour trend might turn down as well later during Europe trading. R is at 13.205 and S is at 13.166 and 13.143.5

Here is DOW's one hour trend closing points in a line chart which has moved sideways several days. The horizontal line at the bottom 13.092.2 and the top 13.211.3 will sooner or later be broken on upside or downside with an hourly close. I think that break out will show the next bigger move's direction.