Dow 30 Feb 13 to Feb 17 Outlook

Recap
As stated last week, there would be limited potential to stretch further as that has proven correct. Closed the week near Y-0.

Outlook
Last week was not weak enough to be considered a reversal week.

As long as Y-0 down to B-2 can form a bottom, B+1 will be retested although that could take more than a week.

The catch (or the weaknesses of the bulls) is that there is a huge 100 point area right underneath B-1 that is made up of 2 gaps. If that zone is zoomed thru (e.g. a down gap) then a quick melt down to B-3 and Y-1 area is likely.