Dow 30 Jan 13 to Jan 17 Outlook

By News Robot

Lawrence’s Comment

Recap
Spike and ledge from the week before failed to produce a sell off last week. Y-1 acted as support most of the week producing strong bounces back up. Closed the week near Y-1 and below midpoint.

Outlook
Spike and ledge invalidated. Dow turned into a bull flag. This is a bullish setup. If Dow can clear B-0 decisively, a run to at least B+2 is in play.

The bull flag pattern, of course, can continue and Dow will likely drift down to B-2 within a channel formation.

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