Regression trend breaks offer resistance level. Previous top and bottom shows rebound and support level. Assuming downtrend is on its way unless resistance is broken with new high. Nasdaq chart provides a clear picture on all these.
MACD indicator is one of the most useful indicator for trend following traders and investors. Its parameter (12,26,9) is very suitable for medium term traders where trading time frame is among from couple weeks to 1-2 months. This DJIA example gives us precise timing for enter and exit long position based on MACD crossing points and divergence signal.
Volume is the only indicator can provide hint for price future action. It is important to watch how volume behaves compare to breakdown and rebound in order to determine the strength of rebound. In this case marked, breakdown showed extreme high volume (use 50 DMA on volume) but rebound came very light weight. Thus, it is reasonable to assume rebound is more...
DJIA shows its bullish status in all time frames. Particularly, DJIA is able to rebound on 50 DMA line yesterday with today's gap-up. Thus, bullish bias stays there until broken on 50 DMA. Uptrend channel also describes its strength well. Only concern is that DJIA is tool bullish using distance of 50 and 200 DMA lines as reference.