Dow 30 Aug 12 to Aug 16 Outlook

Recap
Perfect breakdown from the beginning of the week gave us a very volatile move down to my target from last week. Not an easy ride down at all. Closed the week below Y-1 and midpoint.

Outlook
My warning last week that messy price action should be expected pretty much summed up what happened. More of the same this week will not be a surprise.

Potential complete reversal of the selloff is possible this week if Dow can hold Y-2 and stage a 1-2-3 buy to clear B-0 in 1 go. I am not bullish long term but the chart pattern suggested the possibility so beware of the setup.

Normal price action says that Dow should stay below B-0 for a retest of B-1 and continuation selloff down to B-2.