Dow 30 Jun 08 to Jun 12 Outlook

Recap
Complex swings in the beginning of the week where the bulls tried to defend the Y-0 / Y-1 zone to form a bottom. Took a FBO against Y-1 to kick start the push to Y+1. At 100% absolute range expansion Dow was stopped from going higher. Dow collapsed from there and tagged the Y-2 downside target eventually. Closed the week near Y-2 and week low.

Outlook
More downside is expected but it will not be a easy ride going lower as we have seen from the price actions last week. Y-1 / B-0 strong resistance until proven otherwise.