A Dow Jones up-date

I have received an SMS from a friend this morning (actually he sent it during the weekend). He asked me to look into DJIA for him.


Fig 1 DJIA weekly chart

Actually I am a little uncertain at this moment because everything seems to be in the middle. Both Stochastic and RSI are half way down when they turn. I am also seeing a correction on Dow Jones itself, and I am referring to last week. It was very positive even with the negative news. There is also a resistance at 10,495 while the 21 weeks Moving Average is supporting at 10,333.

My suspicion at the moment is that Dow is on b wave of its down cycle, afterall, it is on the negative gradient of the Gann grid line. It may be having very limited up trend this week judging from how close it is to the resistance.