Is Dow Jones reversing as well?

My last update on Dow Jones was on Dow Jones, Nikkei and Hang Seng Up-date 1st Oct 2023 which I was negative on the trend of the Dow Jones. I suspect Dow was in process of top formation. 

The momentum of the uptrend between July 2022 to July 2023 was gradual and that it demonstrated pattern of a 3-wave formation. In addition, there are various divergence such as MACD as well as failure of Dow Jones superseding the previous top.

However, Dow Jones rebounded strongly this week just like Nikkei. I am positive on Nikkei as the continuation was long anticipated, Am I with the same feeling with Dow?

Fig 1. Dow Jones weekly chart

Since my last update, Dow reversed from its 61.8% projection, broken through 55-week moving average only to stopped at 144-week moving average. It is presently retesting the 55-week moving average.

In addition, the counter wave between the 2 July also developed a wedge formation and outbreak by week of 17th September.. This is further signs that Dow Jones is on a down trend.

It is however possible for Dow to move momentarily upward to retest 61.8% projection as well as the wedge envelop with resistance now at 35,317. 

However, the general trend I believe is still downward with support at betwen 27,254 to 30,492.

Another level to observe is 28,586, which is the previous low of Dow Jones on 2nd October 2022. should this level be violated, the formation of a double top will be completed. it is only worth noting as a possibility as the pattern is yet to complete.

It is possible that Dow Jones will retreat after