Dow 30 Feb 03 to Feb 07 Outlook

Recap
Dow completely dominated by bottom pickers in the beginning of the week. Hence failed to clear the previous week close from below. As new low printed mid week, the bounce that followed could not even clear Y-1. Flushed to 2X weekly opening range and bounced. Closed the week below Y-1 and midpoint.

Outlook
Potential 3 pushes down in place. Dow has to move above B-0 swiftly and find support at the 2nd swing low from last week to trigger a counter-trend rally with target above B+1.

Until Dow can prove itself, more downside is expected as the down side targets are not tagged yet.