Recap Dow opened down at Y-2 and triggered a flush down to Y-3, all happening within the first 30 minutes of the week. Since then extreme 2 way swings until Dow cleared Y-1. Closed the week above Y-1 and near week high.
Outlook More upside likely as the market shock subsided. 17000 round # strong attractor above. Trapped long from 17000 and above will likely cap any rally attempt and the potential of more sell off by the end of the week.
Mid-day Update: For Emini S&P, 1970-1990 has been the key battlefield over the past month and a half. It is also the middle zone for the year’s range so far. ...
Dow 30 Aug 31 to Sep 04 Outlook
Lawrence’s Comment
Dow opened down at Y-2 and triggered a flush down to Y-3, all happening within the first 30 minutes of the week. Since then extreme 2 way swings until Dow cleared Y-1. Closed the week above Y-1 and near week high.
Outlook
More upside likely as the market shock subsided. 17000 round # strong attractor above. Trapped long from 17000 and above will likely cap any rally attempt and the potential of more sell off by the end of the week.
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