Chart of the day

DJIA is testing the critical resistance of 35400. A break above this level is required for an upside reversal higher to test 36000. A rejection here will leave the downside swing in the fourth wave 32500 again open as a possibility.

I see this still as a fifth-wave upside not finished and will be confirmed upon a break above 36000. We need to see a clear confirmed break below 32000 for the upside fifth wave to be invalidated.

Long trades could be opened here upon a break above 35500. Short trades should be opened in the case of a rejection here and a break below 35000. This is a key resistance level and a break of it or a rejection will determine a future direction.