Dow 30 Oct 15 to Oct 19 Outlook

By News Robot

Lawrence’s Comment

Recap
Dow failed to hold above 13450, gave way to a flush to Y-1. Cleared Y-1 easily, pointing to Y-2 as the target. After tagging Y-2, Dow bounced back up slightly. Closed the week near Y-2.

Outlook
A huge double top formation is now in place and the neckline is 13300. If that turns into resistance Dow will likely melt down to B-2 area, near 13000 before finding any support.

If Dow can close above the neckline on daily basis, It can squeeze the shorts leading to a quick pop back up to B-0.

Share

  • You must be logged in to comment. Log in