Dow 30 Oct 06 to Oct 10 Outlook

Recap
Wild swings continues as expected. Dow flushed pretty much straight down after failing to clear Y-0. 150% range expansion stopped the drop and gave us a bounce beyond majority of traders can believe – back to the crime scene! Closed the week above Y-1 and midpoint.

Outlook
This is again not a reversal just like last week. It is big battle among the players across all the major timeframes. Remember daily down trend is now in place but we have not have a weekly swing level down trend established. Long term bulls will continue to buy strategic support levels.

As long as Y+1 is not breached, this wild swing business will continue and we cannot rule out a drop to B-2 either this week or next.