Dow 30 Mar 07 to Mar 11 Outlook

Recap
Near perfect 2 legs pullback to Y-0 visible on 30-min sparked the rally to clear Y+1. Y+1 served as support since and led toparabolic run to target above 17000 round number. Closed the week above Y+1 and near week high.

Outlook
By 17100 Dow would have completed its 2 legs of 1000-point run within a 4 week window. It is probably the strongest upside push we have on record with the exception of Bernanke’s entrapment of short sellers back in year 2009. It will take some time to absorb this run and consolidation with tight range is likely. A pullback to B-0 is also in the card.