The Dow Jones Industrial Average, S&P 500 and the NASDAQ Composite index continue to move up. The US benchmark indices are retaining their strength and are keeping intact their broader uptrend. The Dow Jones and the S&P 500 have more room to rise from current levels. The NASDAQ Composite index, on the other hand, is coming close to a crucial resistance. The price action in the next couple of weeks is going to be very crucial to see if the NASDAQ Composite index is going to reverse the trend or not.Dow Jones (51,037.09)The rise to 51,300-51,500 mentioned last week is happening in line with our expectation. From a medium-term perspective, the Dow Jones has potential to target 52,000-52,500 on the upside.Immediate support is at 50,800, below which 50,300 and 50,000 are the next important supports. The short-term outlook will turn negative only if the index declines below 50,000. In that case, 49,300-49,000 can be seen on the downside.From a big picture, the region around 52,500 is a strong resistance which can halt the current rally. So, we have to turn cautious as the index approaches 52,500.S&P 500 (7,580.05)The break above 7,500 has happened in line with our expectation. That boosts the bullish momentum and keeps the door open for more rise. The level of 7,500 can now act as a good near-term support.The S&P 500 index can rise to 7,700-7,750 from here. A corrective fall to 7,600-7,550 thereafter cannot be ruled out.From a big picture, the S&P 500 has the potential to target 7,800-7,850. We can expect the current rally to find a top anywhere in this 7,800-7,850 region and then reverse lower.NASDAQ Composite (26,972.62)The rise and break above 26,800 have happened as expected. That keeps intact our bullish view of seeing 27,500 on the upside.The region around 27,500 is a strong trendline resistance. As such there are good chances for the current rally to halt around 27,500.A downward reversal from around 27,500 and a subsequent fall below 26,900 can trigger a corrective fall. That leg of fall can drag the NASDAQ Composite index down to 26,000 and even lower.As such, we suggest everyone to remain cautious now rather than being overly bullish.Dollar outlookThe dollar index (98.94) remained broadly stable all through the week. The immediate outlook is mixed.Near-term support is at 98.70. A break below it can take the index down to 98.55-98.50. A further break below 98.50 will increase the downside pressure and drag the dollar index down to 97.80.On the other hand, good resistance is in the 99.45-99.55 region. The index has to breach 99.55 decisively to gain some strength. In that case, the bullish case will strengthen for a rise to 100.50-101 going forward.We will have to wait and watch.Treasury YieldCrude Oil price tumbling below $100 per barrel has dragged the yield sharply lower last week. The US 10 Year Treasury Yield (4.44 per cent) fell breaking below the support at 4.5 per cent. This was contrary to our expectation. We had expected the yield to bounce back from this support.There is support near current levels. So, an immediate bounce from here can give some relief and take the 10 Year Treasury yield higher to 4.6 per cent again.But failure to rise above 4.48 per cent from here can continue to keep the yield under pressure. In that scenario, the yield can fall to 4.35 per cent first. A further break below 4.35 per cent can drag it down to 4.25 per cent as well.