Dow 30 Jan 21 to Jan 25 Outlook

Recap
3rd week in a row the major US indices are repeating what happened last year. The rising wedge broken early in the week and turning into sideway action around Y+1 which is usually bullish as the trend entering the consolidation was up. Then another gap up and go leading to all out short squeeze to above Y+2. Closed the week above Y+2 and near week high.

Outlook
100% absolute range expansion capped the up swing so far. As long as B+1 acts as resistance, good chance that Y+1 will be retested sometime this week.

I will not be surprised that all efforts will be made, including use of newshocks, rumors, etc. to pop Dow higher should we get a day that drops it by 100 points or more.