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.
Lawrence's Comment
Recap
Pulled back to Y-0 and bounced right off. Retested Y+1 and consolidating around it. Closed the week near Y+1 and above midpoint.
Outlook
The pullback and then the retest ...
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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