Recap Dow tried to fill the open gap above early in the week and failed. Y-1 turned into resistance and sent Dow down to Y-2. Y-2 acted as support and produced a squeeze back up to above Y-1. Closed the week near Y-1 and midpoint.
Outlook More bullish than NQ but not quite a confirmed reversal against the forming of potential daily down trend. Y-0 / B+1 strong resistance until proven otherwise. A retest of B-1 likely.
Dow 30 Sep 28 to Oct 02 Outlook
Lawrence’s Comment
Dow tried to fill the open gap above early in the week and failed. Y-1 turned into resistance and sent Dow down to Y-2. Y-2 acted as support and produced a squeeze back up to above Y-1. Closed the week near Y-1 and midpoint.
Outlook
More bullish than NQ but not quite a confirmed reversal against the forming of potential daily down trend. Y-0 / B+1 strong resistance until proven otherwise. A retest of B-1 likely.
Share