Dow 30 Oct 05 to Oct 09 Outlook

Recap
Retest of Y-1 happened as expected. FBO against Y-1 gave us a pop back up to Y-0. NFP Friday gapped Dow lower to Y-1 which is strong support due to FBO setup. Clean run up to crime scene from the week before. Closed the week above Y-0 and near week high.

Outlook
Do not confuse volatility with directional change. The whiplash action is just a result of short term participants being swiped by the market making process. Until we see clear swing trend in place, Dow is still in daily level down trend or no trend. A retest of B-0 is in play with strong resistance right above Y+1 where the open gap is.