Dow 30 Aug 04 to Aug 08 Outlook

Recap
Y-1 rejected in the beginning of the week leading to a run to Y-0 / open gap resistance zone. Dow failed to stay above Y-0 giving us a go for more downside. Y-1 could no longer be defended. Then Dow gapped through Y-2 and flushed down to Y-5. Closed the week below Y-4 and midpoint.

Outlook
Dow followed analog model prediction selling off in the last week of July as reported in the premium section. A short term correction of the stock market is now in progress. Until the excessive over extended market breadth condition is neutralized, more down side is expected.