Dow 30 Jul 07 to Jul 11 Outlook

Recap
Y+1 was breached quickly in first half of the week invalidated the bearish bias. The door to Y+2 was opened since. Y+2 tagged eventually at the end of the week. Closed the week above Y+1 and midpoint.

Outlook
Dirty bottom against Y-1 in place. This is not a good sign for the bulls as it indicates the rally is purely a squeeze. Dow may easily fall back down to B-0 and below in coming few weeks.