Dow 30 Oct 31 to Nov 04 Outlook

Recap
Not only Dow fulfilled our upside target of 12000 mentioned last week, it actually completed 100% absolute range expansion before stalling. Closed the week near the high of the week.

Outlook
Consolidation to slightly higher within Y+3 and Y+4. Reactions to major news shocks from last week will take the market sometime to digest.

Pullback to the gap is expected once the short squeeze dynamics is over.

Hence, I am expecting a choppy rally for 5 to 8 days that produces a top leading Dow back down to this open gap below.