Dow 30 Jun 30 to Jul 04 Outlook

Recap
The bearish expectation played out last week. Dow could not clear Y+1 leading to a drop back down to the pre FOMC announcement level. Y-1 support led to a bounce to Y-0. Closed the week near Y-0 and midpoint.

Outlook
2nd week with reduced range. Close near Y-0 and B-0. Indecision / potential short term equilibrium point.

If it is indecision, we have a breakout play favouring the down side until B+1 is breached.

If it is equilibrium we are dealing with, we will have another week of tight range. It should not be a surprise as it is a US holiday week.