Recap Y-1 rejected in the beginning of the week leading to a run to Y-0 / open gap resistance zone. Dow failed to stay above Y-0 giving us a go for more downside. Y-1 could no longer be defended. Then Dow gapped through Y-2 and flushed down to Y-5. Closed the week below Y-4 and midpoint.
Outlook Dow followed analog model prediction selling off in the last week of July as reported in the premium section. A short term correction of the stock market is now in progress. Until the excessive over extended market breadth condition is neutralized, more down side is expected.
Overview
Emini overnight range 1838.50 up to 1870.50 (at 7:45 am)
Overnight Midpoint 1854.50
Pivot 1845.75
Emini S&P is now trading at the top part of its range with a gap ...
Lawrence's Comment
Recap
Strong gap up right from the beginning of the year and stuck in a tight range since. Closed the week at midpoint. The weekly price level on last ...
Dow 30 Aug 04 to Aug 08 Outlook
Lawrence’s Comment
Y-1 rejected in the beginning of the week leading to a run to Y-0 / open gap resistance zone. Dow failed to stay above Y-0 giving us a go for more downside. Y-1 could no longer be defended. Then Dow gapped through Y-2 and flushed down to Y-5. Closed the week below Y-4 and midpoint.
Outlook
Dow followed analog model prediction selling off in the last week of July as reported in the premium section. A short term correction of the stock market is now in progress. Until the excessive over extended market breadth condition is neutralized, more down side is expected.
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