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
ES gapped down with Dow to its Y-2 target Monday. ES then it staged a bottom and gap up to fill the gap above upto 1200 which is ...
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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