Recap As explained last week, weekly up trend intact and that is good enough reason to send Dow back up to fill the open gap above. Gap fill led to selling back down to near the open gap below. Dow found support and shoot back up to produce a new high for the week before stalling. Closed the week above Y-0 and midpoint.
Outlook Inside week up close is bullish for a test of Y+1. Y+1 resistance will easily send Dow back down to Y-0 again.
Recap of last week Previous week low tagged first as expected. Then previous month close acted as resistance, and run down to the target of previous month low - ...
Dow 30 Apr 27 to May 01 Outlook
Lawrence’s Comment
As explained last week, weekly up trend intact and that is good enough reason to send Dow back up to fill the open gap above. Gap fill led to selling back down to near the open gap below. Dow found support and shoot back up to produce a new high for the week before stalling. Closed the week above Y-0 and midpoint.
Outlook
Inside week up close is bullish for a test of Y+1. Y+1 resistance will easily send Dow back down to Y-0 again.
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