Dow 30 May 07 to May 11 Outlook

Recap
Ranged bounded play worked out well for the first 4 days last week. Then NFP report forced a breakout to the downside. Normal 2X target from the tight range tagged. Closed the week near its low.

Outlook
NFP report itself is not something predictable but its consequence in the following week is.

Clearing B-1 early in the week will open door to B-2 / Y-1 zone. It can be a very sudden wild ride going down there.

If B-1 acts as support, the gap above to B-0 will be tagged quickly. And it will be very difficult to tell what’s next at that price level.