Recap Consolidation actions around Y+1. Lower boundary of open gap filled while crime scene above from the last sell off stopped the rally attempt. Closed the week near Y-0 and week low.
Outlook Potential head and shoulder on 30-min for a rush back down below 17000 while Y-0 / B-1 acting as support decisively will carry Dow back up to B+1.
Dow 30 Jan 04 to Jan 08 Outlook
Lawrence’s Comment
Consolidation actions around Y+1. Lower boundary of open gap filled while crime scene above from the last sell off stopped the rally attempt. Closed the week near Y-0 and week low.
Outlook
Potential head and shoulder on 30-min for a rush back down below 17000 while Y-0 / B-1 acting as support decisively will carry Dow back up to B+1.
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