Dow 30 Aug 11 to Aug 15 Outlook
By News Robot
Lawrence’s Comment
Recap
Consolidation around previous week close at 50% range. End of week rally took Dow back up. Closed the week above Y-1 and midpoint.
Consolidation around previous week close at 50% range. End of week rally took Dow back up. Closed the week above Y-1 and midpoint.
Outlook
Consolidation week with up close not as bullish as it seems. Building on the false bottom with B-0 support Dow can rally back up to B+2.
Comments
Two observations
DJIA bounced off of its 200 dma on Thursday. Obviously, NDX and SPX did not.
Dow theory is not signaling a sell signal.