Dow 30 Nov 11 to Nov 15 Outlook

Recap
We just encountered one of the wildest week of the year. In the beginning of the week everything looks weak with Y-1 breached yet the gap down induced buying and created a strong move enough to start a short squeeze campaign to Y+2. Then Dow fell straight back down to below Y-0. By end of the week Dow ran back up all the way again. Closed the week above Y+1 and midpoint.

Outlook
Outside week with close above Y+1. It is a strong close and implies a retest of B+1 is likely. The strong reaction at Y-1 told us some major short players have given up at Y-1. It was confirmed by the retest of Y-0 with another strong reaction to the upside.

Until B-1 is breached, on swing basis, shorts will be outnumbered and outpowered for a while.