The Dow Jones 30 inches higher as bond yields pull back from their recent highs. A bounce off December’s low of 32500 and above 33000 has prompted short-term sellers to cover, turning the latter into a fresh support. As the RSI returns to the neutral area, follow-up buying could be expected from those who missed the initial pop. The index has recouped half of the losses from the mid-February tumble and 33800 is a key hurdle to clear before the bulls could hope for a sustained recovery towards the recent peak of 34500.
