Heres my view. The weekly and monthly charts look bullish to at least 13,000. We had a head and shoulders or double top on the YM which made the target in the 11,500 - 11,800. Price hit those levels in the wick we had a few weeks ago, it doesn't matter if price hung around those levels or if price touched them and took off. What matters is price was ACCEPTED at those levels, then moved higher. I expect price to test the old support level (which would now be resistance) before moving lower.
Volume may be drying up since the sell off, but if you look at where we've been volume is still very heavy. Looking at the INDU monthly we had a small box play, and that target was hit as well. Now we have a hammer with heavy volume which is bullish to me. Unfortunately using candlesticks we cannot come up with a price target like we could with more traditional TA. But I think it's safe to say we will at least test 13,000 before we test the old lows.
Not sure if makes any difference, but gold looks a little bearish here. I think if the market sentiment was to keep falling gold would be a safe haven and would look bullish. As you can see in the chart, we had a bull flag that broke out. Once the target was hit we got a gravestone doji with strong volume, this tells me the sellers came in and price wasn't ready to continue moving higher. Dojis are powerful signals in up trending markets.
Again, that's my own homework a long with some other things I've been reading. But if you do your own homework and come up with something different then trade that. Good trading!