Dow 30 May 12 to May 16 Outlook

Recap
No test of either extreme in the beginning of the week, so the consolidation play of drifting around Y-0 kicked in. Then Fed chair Mrs Yellen changed the game. Dow zoomed to Y+1 and rejected on first test. Dow was thrown back down to week mid but holding up fine. Closed the week near Y+1 and above midpoint.

Outlook
As long as B-0 holds, new high is expected.

If we get a reversal from Y+1 (not B+1) breaking below B-0, it is likely we will see B-1 and B-2 before B+1 will be retested again.