DJI - UP or DOWN?

Dow Jones Industrial Index:

Will the bulls be able to make DJI break above 16,058 and confirm that the decline from 16,174.51 only was a three wave zig-zag correction?

I don't think the bulls will be able to manage a rally above 16,058 call for a continuation above 16,174.51 closer to 16,450.
The reason is, that there is almost no bears left to sell and keep the uptrend going. If however, the bulls magically managed to keep the uptrend since March 2009 going, the rally should be pretty short lived as that would "kill" most of the bears still standing.

So what will it be UP or DOWN?

I think Down...