Recap Y+1 was breached quickly in first half of the week invalidated the bearish bias. The door to Y+2 was opened since. Y+2 tagged eventually at the end of the week. Closed the week above Y+1 and midpoint.
Outlook Dirty bottom against Y-1 in place. This is not a good sign for the bulls as it indicates the rally is purely a squeeze. Dow may easily fall back down to B-0 and below in coming few weeks.
I have written an article called Advance Issues Momentum published in the Technical Analysis of Stocks and Commodities magazine, August 2004 issue. Here is an update about this interesting indicator.
The ...
Lawrence's Comment
Recap
Consolidation week at 50% range. 1780 magic #. Due to overnight news shock all week, we observed surprise breakout plays almost everyday last week. Yet, S&P was still bounded ...
Dow 30 Jul 07 to Jul 11 Outlook
Lawrence’s Comment
Y+1 was breached quickly in first half of the week invalidated the bearish bias. The door to Y+2 was opened since. Y+2 tagged eventually at the end of the week. Closed the week above Y+1 and midpoint.
Outlook
Dirty bottom against Y-1 in place. This is not a good sign for the bulls as it indicates the rally is purely a squeeze. Dow may easily fall back down to B-0 and below in coming few weeks.
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