Dow 30 Sep 19 to Sep 23 Outlook

Recap
The head and shoulder formation was invalidated at the start of the week as Dow did not stay below the neckline.

Signature STOPD reversal after the new low made in the beginning of the week and then double bottom to take out Y-1 which points to at least tagging Y-0 and likely Y+1. Dow got both and closed the week at Y+1.

Outlook
We did not get a rally. It was a pure short squeeze with the purpose of landing Dow at the mid zone of the range established from past few months, as last Friday is the third quarter option expiration.

What that means is that Dow will likely retrace back down to B-0 easily without much upside potential.

What we do not know is that if we can get another leg up off this outside week run.