Dow 30 Nov 04 to Nov 08 Outlook

Recap
Breakout happened and it was to the upside too, no surprise to anyone who read my comment last week. =) 100% absolute range expansion stopped the move and whiplash back to where it started. Closed the week below midpoint and above Y+1.

Outlook
If anything, the close last week is very confusing. A bit higher will give us a bias for retest of B+1. A bit lower we get a confirmed FBO on weekly. It is neither so we just have to deal with it.

First potential setup is spike and ledge where Dow can go a bit higher but must be capped at 15600, if so a drop to B-3 is in play once B-1 is breached.

Second is a straight up run to retest B+1 which we will have very little time to jump on board. Retest of B+1 will tell us if B+1 is strong enough to give us a bigger pullback.