DOW JONES 30 4 hour chart

The U.S. Equity Markets reversed sharply last Wednesday from some Hawkish FOMC Minutes. The mention of tapering (cutting back on Quantitative Easing) caused a big sell off from all time Intra-Day highs.
However the Dip has been bought and we are now looking to challenge or take out these highs again.
Looking at this 4 Hour chart, you can clearly see a rising 4 touch trendline from the previous dip during late April. All and all the price action looks very bullish even though their is a lot of chatter about a potential correction coming during the summer. We firmly believe a buy and dips strategy still is the best play until their is some significant fundamental news to cause investors to sell into this market. Also a breach of this trendline  at around 15300 Spot would unvalidate the uptrend and look like a potential topping pattern.

Near term support can be found at the different Fibonacci retracement levels on the way down.