Trading Edges That Last
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Lawrence's Comment Recap As expected the 3 pushes up led to a selloff below Y-1. Instead of falling further, cable consolidated in range. Closed the week above midpoint. Outlook This week due to ...READ MORELawrence's Comment Recap One of the easier plays last week even though it was a bit wild. FBO in beginning of the week gave us at least a test of Y-0. And ...READ MOREPrecog Vision – US Indices 2011-3-29GBPUSD Aug 08 to Aug 12 Outlook3DP Odds Table (DIA) 2013-04-01Intraday Cycle Projection (YM) 2013-03-27Real-time Commentaries 2021-8-13GBPUSD May 22 to May 26 OutlookAUDUSD Oct 07 to Oct 11 OutlookIntraday Cycle Projection (YM) 2023-02-10Weekly Cycle Projection (DJIA) 2019-12-023DP Odds Table (DJIA) 2011-06-28
As Featured In
Dow 30 Sep 29 to Oct 03 Outlook
Lawrence’s Comment
Pullback as expected. No contest at all when pre-FOMC level was tagged. Sharp reversal again once the pocket near 16950 was tagged. Yet the squeeze failed to produce any continuation action, leading to a straight down fall to Y-1. Closed the week below Y-0 and near midpoint.
Outlook
We just experienced the wildest week in couple of years. This is not V-shape reversal as some may lead you to believe. Hence it is not a good sign of a major top, yet. What it tells us is that the market is unstable.
Even if the stock market is turning lower, I expect the wild swings to continue, meaning it can go as high as B+1 or even Y+1 on one day and then fall straight back down the very next day. It is a day trader’s heaven and nightmare for swing traders.
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