The Dow jumped up a strong 2% today on slightly higher volume. Even then, a late session pullback leaves the market under resistance and based on the action, I expect it to bounce lower.

Here’s a chart:

Here is the current trading channel the Dow is moving within.

Regardless of where I think it will go, the market can still move above resistance. If this happens, watch for a a follow through day and for the market to continue higher.

I’ll do a weekly wrap-up tomorrow. Have a great Friday!