Recap Dow trapped in Y-0 to Y+1 most of the week until Friday option expiration. It then took off when news about Greece debt agreement were fed out. Closed the week above Y+1 and at week high.
Outlook Upside target of Y+2 is not tagged yet on news driven breakout. That will likely be taken care of next week.
Once Y+2 / B+2 zone is tagged, however, a decision will have to be made whether Dow will top out there.
Lawrence's Comment
Recap
Early in the week tried to fill the gap above and failed. That points to the downside gaps in play. Later in the week 2 downside gaps ...
Lawrence's Comment
Recap
Hurriance Sandy removed 2 trading days off the week and that impact showed up clearly in this compressed trading week. Quick flush back down to right above ...
Dow 30 Feb 23 to Feb 27 Outlook
Lawrence’s Comment
Dow trapped in Y-0 to Y+1 most of the week until Friday option expiration. It then took off when news about Greece debt agreement were fed out. Closed the week above Y+1 and at week high.
Outlook
Upside target of Y+2 is not tagged yet on news driven breakout. That will likely be taken care of next week.
Once Y+2 / B+2 zone is tagged, however, a decision will have to be made whether Dow will top out there.
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