Dow 30 Jan 20 to Jan 24 Outlook
By News Robot
Lawrence’s Comment
Recap
Dropped to down channel target of below Y-2. Channel overshoot gave us a run back up to channel top above Y-1 and started a short squeeze. Yet, Dow failed to push higher and dropped quickly back down to Y-1. Closed the week below Y-0 and above mipoint.
Dropped to down channel target of below Y-2. Channel overshoot gave us a run back up to channel top above Y-1 and started a short squeeze. Yet, Dow failed to push higher and dropped quickly back down to Y-1. Closed the week below Y-0 and above mipoint.
Outlook
Messy swings imply instability. Last time we have something like this was back in year 2000 where the normal boundaries are violated easily. Expecting the same to happen now.
As long as B-0 not acting as resistance we do not have a swing level sell setup in place.
Upside breakout points to B+2 quickly.
Comments
Dow 16660? The flip side of SPX 666 low back in 2009?
Measured move to the upside points to the potential.
The market poking fun at its participants. =)