Last Trading Day Before Easter Weekend...

Yes, tomorrow's the last trading day before Easter Weekend, which explains the relatively low trading volume this week so far.

The Dow made a critical rebound off its 50MA today, which saved the intermediate uptrend... for now. Volume remains relatively low and I doubt we will see any explosive action tomorrow.

Here's the interesting part... what usually happens on the week after Easter weekend? Some how, over the past few years, the week after Easter weekend has been positive weeks, even in a market crisis like 2008 and 2003. Also, the last trading day before Good Friday has typically been positive days as well. However, these are just something to feel good about since there's no empirical reason or logic behind it.

Trading volume continue to decline going into this intermediate bull trend and the bullish momentum has faded significantly. In fact, there is a slight bearish divergence on the Dow right now, which makes it an uncertain point for a strong entry. This is clearly an intermediate term consolidation, or taking a breather, before investors decide where to go next. For now, the Dow needs to hold its 50DMA support level.

For now, the Dow remains in primary bear trend, intermediate bull trend and short term bull trend.