Dow 30 Sep 02 to Sep 06 Outlook

Recap
Failed right at the resistance zone mentioned last week and collapsed down to Y-2 target. Bounced from there and tested week mid. Failed to go above week mid and collapsed back down to Y-2. Closed the week near week low and below Y-1.

Outlook
A difficult choice has to be made by the bulls – do they defend B-2 or do they wait til Nasdaq also oversold first?

Lower price level is expected and B-2 is likely. Chart pattern, however, has only 50/50 chance for B-3 to be tagged. Big fight to find bottom this week.