Dow 30 Oct 13 to Oct 17 Outlook

Recap
As expected, bulls tried hard right from the beginning of the week gapped Dow higher yet failed to turn around the established down trend. Dow dropped to Y-1 and bulls stepped in to force a sharp rally. As mentioned last week, they do not stand a chance until they can gather more support. Closed the week below Y-1 and at week low.

Outlook
There is no support from here down to B-2. The whole zone is a void. There are evidence that longer term long side players are exiting the game in the components. This implies a lower price level is necessary to attract them back.

As long as Y-1 is not acting as support yet, more downside is expected. And more wild rides are likely due to the increasing volatility.