The Dow sold off in January from the long term trend line where 16,700 is the strong resistance levels. In our previous reports, a couple of times we gave an alert to Dow close above the level of 16,700, we can't see the upside wave. After the decline the Dow has rallied and reached towards 16,300 levels. Currently, the Dow has been trying to hold above the 50SMA for last 5 trading days, it succeeds in this instance. Any day close below 16,139 rises another bearish view. RSI is still in the uptrend in the hourly and daily charts. The recent low made on February 20, 2014 at the level of 16,006 is the trend changing level. If the Dow crosses 16,300, another 165 will add on the charts towards 16,465.

S1 16,139 R1 16,300

S2 16,006 R2 16,465