Dow 30 Jun 27 to Jul 01 Outlook

Recap
Dow rallied as expected towards 12200, but it stopped at 12150 when it reached 100% absolute range expansion and sold off since. Sell climax hit when Y-1 was tagged and bounced off. 50% of the down move turned into natural resistance. Closed the week below Y-0.

Outlook
If B-1 is taken out early in the week, B-2 will be tagged.

But things are never this simple. A complex bottom here with B-1 acting as support can send Dow all the way back up to B-0 and higher to fill the gap above.

How price reacts to Y-0 will determine which way Dow will go next week.