Following my earlier post of US Stock Market Trends on 20 Mar, it was noted that the Dow Jones was resisted at 200d MA. Breaking 200d MA can be viewed at important indicator that the market changes from bearish to bullish sentiment. So, it is also a stubborn resistance and not that easier to break 
Indeed, the market declined strongly in the last 2 days, 2 big bearish dark candle was formed, and finally, a small white candle formed on May 22. Does it signal a reversal? Plus, it is also supported nicely on the 50d MA. I hope you are seeing the power of MA now, MA are resistance and support.
Dow Jones is now trading in the range of 200d MA and 50d MA, it is a tug of war between the bull and the bear. Eventually, one side is going to win the war.
Meanwhile, it is good to stay aside and monitor the market before initiating any long or short position. All indicator are still heading south, so, there is still some bearish sentiment in the market.
If seeing white candle reversal signal in the next few days and indicator turning north, it might be an opportunity to go long as the probability of resuming uptrend market increase, but also take profit if it does not break the 200d MA resistance. Remember to put you stop loss as well.
DISCLAIMER: This information does not constitute an offer or solicitation to buy or sell. You should do your own analysis on top of my postings.
