Recap Dow pushed higher as expected early in the week. Since then failed to clear the upside and breached Y-0. The break led to all out sell off since. Closed the week below Y-3 and near week low.
Outlook A bounce is due but not necessary what we normally expect. It can be a huge squeeze higher thanks to the increased volatility but that does not translate to a reversal automatically. Expecting wild 2-way play all week with a slight bias for positive close on weekly basis.
Lawrence's Comment
Recap
USD advantage to tag Y+1 turns into all out rally tagging Y+2. Y+1 then turned into support giving us another leg higer to Y+3. Closed the week above Y+3 ...
Lawrence's Comment
Recap
Bottom was not retested. Instead we got a gap lower play and rallied since. Dow ran back up to Y-0 / gap area and stalled from the resistance zone ...
Dow 30 Aug 24 to Aug 28 Outlook
Lawrence’s Comment
Dow pushed higher as expected early in the week. Since then failed to clear the upside and breached Y-0. The break led to all out sell off since. Closed the week below Y-3 and near week low.
Outlook
A bounce is due but not necessary what we normally expect. It can be a huge squeeze higher thanks to the increased volatility but that does not translate to a reversal automatically. Expecting wild 2-way play all week with a slight bias for positive close on weekly basis.
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