Recap The selloff scenario played out where the target of Y-3 was tagged. The strength of the rally in the 2nd half of the week is a bit surprising but not unexpected because that was a quarterly support level.
Outlook A retest of March close/high is expected. That can happen in 2 very different situations. First, if B-0 acting as support early next week, we get a quick zoom to the target. The other scenario, however, is a deeper pullback to Y-2 at a slow pace which means the upside target may not be tagged within the week.
Dow 30 Apr 18 to Apr 22 Outlook
Lawrence’s Comment
The selloff scenario played out where the target of Y-3 was tagged.
The strength of the rally in the 2nd half of the week is a bit surprising but not unexpected because that was a quarterly support level.
Outlook
A retest of March close/high is expected.
That can happen in 2 very different situations.
First, if B-0 acting as support early next week, we get a quick zoom to the target.
The other scenario, however, is a deeper pullback to Y-2 at a slow pace which means the upside target may not be tagged within the week.
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