Trading Edges That Last
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Lawrence's Comment Recap Another tight range week going nowhere. Near end of week the drop to Y-0 was bought up immediately. Closed the week near Y+1 and above midpoint. Outlook Clearing B+1 ...READ MOREPrecog Vision – US Indices 2016-11-18Real-time Commentaries 2022-8-26Real-time Commentaries 2013-1-30Intraday Cycle Projection (YM) 2015-04-02Precog Vision – US Indices 2013-7-25Hot n Cold (DIA) 2012-1-23Intraday Cycle Projection (DIA) 2017-05-23AUDUSD Aug 13 to Aug 17 OutlookIntraday Cycle Projection (DJIA) 2013-03-21Intraday Cycle Projection (YM) 2019-12-30
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Dow 30 Apr 28 to May 02 Outlook
Lawrence’s Comment
Got the upside breakout. But failed to clear 16500 round number hurdle. Then bad news hit and all the stubborn longs were trapped. Flushed back down equal distance and found support near the open gap. Closed the week below Y+1 and midpoint.
Outlook
We have not have such big open gaps in opposite directions within 2 weeks for a long time. This created a vacuum structure that will for sure making many frustrated traders this week.
Chart pattern on weekly tells us it is an FBO against the range established by Y+1 and Y-1. Since Y+1 failed to act as support, the likely target of Y-0 is in play. It can happen quickly with B-2 also likely.
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