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.
Lawrence's Comment
Recap
Instead of a reversal euro managed to break out of its up channel without dropping back down below the support zone. Wild swings at the 2nd half of the ...
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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