Dow 30 May 19 to May 23 Outlook

Recap
Not even a contest at Y-0, Dow gapped up and cleared Y+1 right from the start. That opened the door to Y+2. Then the reversal right below Y+2 opened the door to Y-0. We got Y-0 in 1 go. Dow then struggled to hold the up trend line formed over the past weeks. Closed the week above Y-0 and below midpoint.

Outlook
The rising wedge from last week is now gone, yet a potential up channel is in the making.

If Dow can hold Y-0, B-0 to Y+1 is not a problem.

Another run to new high is expected once B-0 is cleared.