Thursday short covering - quick post

Well everyone was bullish today - the DOW up 500 points at one stage... has the short term down trend changed?


Not according to my charts

DOW 2 HOURS

What can be seen in the chart

1. Despite the rally today the DOWN TREND is still intact
2.  I think a break above 25300 would be a signal that the down trend has finished
3.  A break of 24520  the very short ascending channel/wedge from the lows, will see new lows target 24k minimum

4.  It feels like the move is coming to an end - see previous post for the possible postive divergence set up