Recap News sent it down to below Y-1. However, Y-1 did not act as resistance, thus the original target of March high is still in play. Gapped thru the March high leading to short squeeze that printed new high for the year.
Outlook The gap now becomes the support zone. It is a large range thus the fight in that area will be complex and messy. As long as the week can close above B-0, a retest of B+1 and new high are likely.
Lawrence's Comment
Recap
V-reversal not confirmed by end of week. Range bounded move all week between Y-0 and Y-1. News shock later in the week led to 2-way fade out. Closed the ...
Dow 30 Apr 25 to Apr 29 Outlook
Lawrence’s Comment
News sent it down to below Y-1. However, Y-1 did not act as resistance, thus the original target of March high is still in play. Gapped thru the March high leading to short squeeze that printed new high for the year.
Outlook
The gap now becomes the support zone. It is a large range thus the fight in that area will be complex and messy. As long as the week can close above B-0, a retest of B+1 and new high are likely.
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