Dow 30 Jun 10 to Jun 14 Outlook

Recap
First time since beginning of the year where Y-0 acted as resistance and gave us a selloff down to my target area 14800-14900. As I warned last week, beware of government intervention and got just that to zoom everything higher at the expense of trashing US dollar. Closed the week above Y-1 and midpoint.

Outlook
The first big challenge of the managed market environment coming this week.

Although the coordinated effort to pop the stock markets worldwide worked like a charm last week, it cannot stop the market from going down again unless more intervention is coming. The way the unloading of stocks over the past month implies major players are no longer interested in the stock market.

As long as these money are not coming back into the stock market, it will not be able to produce a stable environment for stocks to go higher for prolonged period of time.

This week Dow should consolidate within B+1 and B-0. Once the short term overbought condition is neutralize, as long as Dow is still holding above B-0, it can go higher.