Dow 30 May 05 to May 09 Outlook

Recap
Selling could not happen as NFP week bias kicked in. FBO against Y-1 gave us Y-0 and then Y+1 before NFP Friday. By Friday, the surprise is over and Dow moved back down to test the open gap below. Closed the week above Y-0 and midpoint.

Outlook
Outside week positive close yet not closing above Y+1. Very confusing combination. If Y+1 acting as resistance and lead to a break of Y-0/B-0, we get an all out selloff down to below B-1.

Short of that, the drifting can last a whole week. Y-0 / B-0 was the original breakout zone that will be defended by bulls if they want Dow to go higher.