Dow 30 Sep 10 to Sep 14 Outlook

Recap
Remember I said “it was confusing” last week? It is. The week started with a flush to Y-1 yet no breakdown. A test of Y-0 right after did not push Dow lower to retest the week low. Then news shock forced Dow to clear the resistance area with an all out short squeeze. Closed the week near week high and above Y+2.

Outlook
This is how things end when the only participants are the active traders (the market makers are always there so they don’t count).

Y+1 down to B-0 must act as support for this rally to be real.

The likely scenario is consolidation around B+1 in the range of Y+2 to Y+3.