Breakout by a clear margin suggests a continuation of the long term bull trend.
The Dow has reverted to the mean, which could be quite a strong resistance.
Now testing previous high. Strong resistance at the current level and then at around 1,620.
Reverting to the mean at around 1,750.
Breakout from 3,200 is bullish. Target of 4,550. But see the resistance at 4,200.
Also testing the mean.
Solid recent new highs supports the bull trend.
Short term bottoming potential.
The long term down trend continues.
Staples have reached target. Now what?
Falling volume since September 2011 does not make for a persuasive breakout. I would consider channel resistance stronger than impetus for target.
Moving to target on low volume. Channel resistance now tested.
Reverting to the mean at around 30. But might get snagged on resistance at around 26.