Recap Dow coiled up on Monday led to attempt to clear Y+1 but failed. Y-0 not strong enough as support, gave way to more selling down below Y-1. Friday event led to spike up challenging Y-0 yet failed again. Closed the week near Y-2 and below midpoint.
Outlook Wide range reversal week. Y-1 / B-0 strong resistance. Y-3 to B-2 in play.
Lawrence's Comment
Recap
Total breakdown since the start of the week. Tagged 2X previous week range and bounced on exhaustion. Closed the week at midpoint.
Outlook
Looking for short term bottom early ...
Lawrence's Comment
Recap
Consolidation actions around Y+1 as expected. Resistance mentioned last week stopped the push higher. FBO against Y+1 sent this straight down until 100% absolute range expansion was reached. Closed ...
Dow 30 Aug 29 to Sep 02 Outlook
Lawrence’s Comment
Dow coiled up on Monday led to attempt to clear Y+1 but failed. Y-0 not strong enough as support, gave way to more selling down below Y-1. Friday event led to spike up challenging Y-0 yet failed again. Closed the week near Y-2 and below midpoint.
Outlook
Wide range reversal week. Y-1 / B-0 strong resistance. Y-3 to B-2 in play.
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