Looking at this weekly chart, we can clearly see that DJIA is moving in the intermediate Wave C. This Wave C is the final component of a larger primary Wave 4, which could bottom out at approximately 23000. 23000 is the 1.618 extension of the bottom of DJI's long term ascending channel, therefore opening long positions there should be very safe and profitable.
Although DJI's short term downtrend is not finished yet, I DO NOT advise any shorting here. The long term trend is extremely bullish, therefore the profit/risk ratio of shorting here and now is very unfavorable!