Dow 30 Feb 25 to Mar 01 Outlook

Recap
Right from the start of the week Dow moved higher but struggled to stay above Y+1. The spike high that led to a close well below Y-1 confirmed the FBO and staged Y-1 as the target. Dow flushed down to Y-1 and gap thru to Y-2 before it finds support. To the surprise of many people, Dow rallied all the way back up to close the week positively. Closed the week above Y-0 and midpoint.

Outlook
First a FBO to the upside leading to a selloff to the bottom of the breakout range. Then holding the bottom of the breakout range and rallied back upto above Y-0. That means both boundaries of the tight range are rejected.

There is no guarantee that next breakout will be for real. So far bulls have the upper hand because the lower boundary was not breached to form the bottom.

B+1 in play as long as B-0 holds.