Recap Violent reaction to Greece situation kickstarted the week. Strong gap breakout to the upside points to Y+3 in play. We got Y+3 and Dow was stuck since. Closed the week above Y+2 and B-0.
Outlook Upside triangle with upside breakout from the week before the prior one is a dirty bottom. This implies the strength we see so far is not natural. A test of Y+1 is necessary in coming weeks.
Dow 30 Jul 20 to Jul 24 Outlook
Lawrence’s Comment
Violent reaction to Greece situation kickstarted the week. Strong gap breakout to the upside points to Y+3 in play. We got Y+3 and Dow was stuck since. Closed the week above Y+2 and B-0.
Outlook
Upside triangle with upside breakout from the week before the prior one is a dirty bottom. This implies the strength we see so far is not natural. A test of Y+1 is necessary in coming weeks.
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