Recap Instead of selling right off the start of the week, the 3 stock market indices chose to form a bigger top and sold off hard the rest of the week. Our projection of a week long pullback nailed that and Dow closed the week above Y-1 after trading below that briefly.
Outlook Dow rejected Y-1 meaning that it wants to go higher from here as long as Y-1 down to B-1 acts as support.
Early in the week if we get a buy setup, a strong rally taking Dow back up to fill the gaps above.
Dow 30 Nov 21 to Nov 25 Outlook
Lawrence’s Comment
Instead of selling right off the start of the week, the 3 stock market indices chose to form a bigger top and sold off hard the rest of the week. Our projection of a week long pullback nailed that and Dow closed the week above Y-1 after trading below that briefly.
Outlook
Dow rejected Y-1 meaning that it wants to go higher from here as long as Y-1 down to B-1 acts as support.
Early in the week if we get a buy setup, a strong rally taking Dow back up to fill the gaps above.
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