There is no doubt that the market has set new support level on November 21, 2009 (see my "DJI Analysis" post) and it looks like November 28, 2009 high is another sensitive point that should be watch closely. If the indexes break this high and move higher, there is a possibility that we will not be back down soon. Yet, if this is not the end of recession and the market meant to be even lower, most likely we will see bounce from this top with further attempt to retest the November 21 support.
So far the indicators are Bullish, however the recent recovery has pushed the stock market into the short-term oversold condition. The market is still very volatile and what seems today Bullish may turn into strong Bearish tomorrow. That is why I still consider monitoring charts during the trading hours as very important part of trading. This is not a time when you can come to the chart once a day after the market closes or once a week. I do not believe in the mid-term trading now either, you may trade short-time or for long-term investment you may use simple strategy "Buy every time you see big volume surges during the decline".