Recap S&P followed Dow’s lead broke out upside. Stopped going higher right below 100% absolute range expansion when Dow completed its run. Immediately collapsed back down to previous week close. Closed the week above Y+1 and below midpoint.
Outlook Clearing B-0 on daily points to up move continuation with B+2 in play. Do not get in its way until confirmed weaknesses in breadth.
B-0 acting as resistance points to a 3rd leg down to Y-0 only. Until a break of B-1 and that turning into resistance that we know the daily uptrend is broken.
Review of Forecast for Oct 17, 2016
Monday did not challenge Friday high, so no directional push towards previous week low. Instead, we got consolidation all week. The breadth analog model ...
Review of Forecast for Oct 17, 2016 Monday did not challenge Friday high, so no directional push towards previous week low. Instead, we got consolidation all week. The breadth analog model ...READ MORE
S&P 500 Nov 04 to Nov 08 Outlook
Lawrence’s Comment
S&P followed Dow’s lead broke out upside. Stopped going higher right below 100% absolute range expansion when Dow completed its run. Immediately collapsed back down to previous week close. Closed the week above Y+1 and below midpoint.
Outlook
Clearing B-0 on daily points to up move continuation with B+2 in play. Do not get in its way until confirmed weaknesses in breadth.
B-0 acting as resistance points to a 3rd leg down to Y-0 only. Until a break of B-1 and that turning into resistance that we know the daily uptrend is broken.
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