Dow 30 Feb 02 to Feb 06 Outlook

Recap
As expected, the choopy run up was not sustainable and Dow fell off a cliff back down to Y-1 right from the start. It then consolidated around Y-1. Closed the week below Y-1 and near week low.

Outlook
Falling off a daily level bear flag points to range expansion to the downside likely. Dow has not expanded its range much last week so some continuation to the downside should take it down to 17000 and below.

If Dow can swiftly snap back up above B-1 without tagging B-2 on daily closing basis, a sharp run up will take it back up to Y-0 or even B+1.