Recap Dow coiled up on Monday led to attempt to clear Y+1 but failed. Y-0 not strong enough as support, gave way to more selling down below Y-1. Friday event led to spike up challenging Y-0 yet failed again. Closed the week near Y-2 and below midpoint.
Outlook Wide range reversal week. Y-1 / B-0 strong resistance. Y-3 to B-2 in play.
Lawrence's Comment
Recap
Consolidation around Y-0. Tried hard to hold Y-0 early in the week but failed. Leading to a move down to equal distance below Y-0. There was no panic selling ...
Lawrence's Comment
Recap
Consolidation at 50% range found support above Y-0 and sent this back up to Y+1. Closed the week near Y+1 and above midpoint.
Outlook
Y+1 resistance points to potential ...
Dow 30 Aug 29 to Sep 02 Outlook
Lawrence’s Comment
Dow coiled up on Monday led to attempt to clear Y+1 but failed. Y-0 not strong enough as support, gave way to more selling down below Y-1. Friday event led to spike up challenging Y-0 yet failed again. Closed the week near Y-2 and below midpoint.
Outlook
Wide range reversal week. Y-1 / B-0 strong resistance. Y-3 to B-2 in play.
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