Recap Consolidation actions within Y+1 and Y-0 as expected until FOMC announcement. Breakout to the upside and filled the open gap above. Closed the week above Y+1 and near week high.
Outlook Y+2 target not tagged yet and should be taken care of quickly next week. Limited upside potential with B+2 potential exhaustion run target.
Lawrence's Comment
Recap
Y-1 acted as support and sent this back up to Y-0 resistance. Closed the week near Y-0 and above midpoint.
Outlook
B-0 / Y-0 zone potential support for breakout ...
Dow 30 Feb 01 to Feb 05 Outlook
Lawrence’s Comment
Consolidation actions within Y+1 and Y-0 as expected until FOMC announcement. Breakout to the upside and filled the open gap above. Closed the week above Y+1 and near week high.
Outlook
Y+2 target not tagged yet and should be taken care of quickly next week. Limited upside potential with B+2 potential exhaustion run target.
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