Recap Collapsed down to target as expected BUT that is not shown in the chart because the selloff happened in afterhours. Bounced off that afterhours low and never looked back. Rallied to fill the closest upside gap before stalling. Closed the week above Y-0 and B-0.
Outlook As Y-1 was rejected and traded higher since, the target of B+1 will be tagged someway. During this upcoming light volume week and a long weekend, stock market has higher odds in drifting up.
Lawrence's Comment
Recap
A higher high and higher low on weekly finally formed.
Outlook
As long as Y-1 acts as support, we have a confirmed long term bottom for the pair in ...
Dow 30 Aug 29 to Sep 02 Outlook
Lawrence’s Comment
Collapsed down to target as expected BUT that is not shown in the chart because the selloff happened in afterhours. Bounced off that afterhours low and never looked back. Rallied to fill the closest upside gap before stalling. Closed the week above Y-0 and B-0.
Outlook
As Y-1 was rejected and traded higher since, the target of B+1 will be tagged someway. During this upcoming light volume week and a long weekend, stock market has higher odds in drifting up.
Share