Retracement likely...but follow through possible

The Dow and S&P, illustrated below with the YM and ES emini futures indices have both risen up near resistance areas. The Dow has moved up through the declining trendline and is now near both a price level top and the 61.8% fibbo, all pictured below noting the white arrow dawn on the chart.
The S&P kissed the down trendline today and is nearing it's 61.8% fibbo. These resistance points will likely cause a near-term pullback from recent this move up. However, looking at the graphs, you'll notice the three moving averages are close to crossing over which could mean the markets are headed for higher highs. Interestingly, the Nasdaq (not pictured) seems to be lagging a bit behind the other indices.

Happy Trading!

God Bless!