Trading Edges That Last
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Lawrence’s Comment
Another one played out as expected. Bounce from Y-0 was weak and as expected could not even get close to Y+1. Sold off down to near Y-1 and bounced. Closed the week below midpoint and Y-0.
Outlook
Inside week closing below midpoints. For a down trend to start, we need a strong selloff from B-0 to B+1 area that breaks B-1 and B-2 in 1 go. That will open the door to much lower price levels.
Until then, consolidation continues with both B-1 and B+1 in play.
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