Dow 30 Jul 08 to Jul 12 Outlook

Recap
Y+1 (i.e. 15000) acted as resistance as expected and sent Dow back down yet it failed to test Y-0. This is bullish. 2nd attempt at Y+1 breached the resistance and opened the door to higher price since. Closed the week at week high and above Y+1.

Outlook
A classic consolidation week at 50% previous week range. Closed above previous week high is bullish from consolidation. Until Dow stays firmly below Y+1 there is not much reason for Dow to go lower until B+2 is tagged.

Sell side opportunity needs Dow to drop back down to B-0 and forming a sell setup between B-0 and Y+1. The downside target from there is at least B-2.