Dow 30 Mar 04 to Mar 08 Outlook

Recap
Got Y+1 target right from the start. Then failed to stay above Y+1 and induced a flush back down to fill the gap and tag Y-0. The flush continued and took out Y-1 in 1 go. Then magically bids came in and defended Dow. A huge 1-2-3 was formed and that led to a short squeeze pushing Dow way higher. But the move could not sustain itself and collapsed back to Y-0. Closed the week above Y+1 and midpoint.

Outlook
The week before last was wild. Last week was worse. Things just change within a day or 2. Both sides failed to secure Dow in a trend.

Daytrading becomes much easily in environment like this because of the expansion in daily range.

Swing trading will continue to be difficult until Dow finally form a swing top or bottom.

Next week is NFP week so follow the playbook.