Recap Dow completely dominated by bottom pickers in the beginning of the week. Hence failed to clear the previous week close from below. As new low printed mid week, the bounce that followed could not even clear Y-1. Flushed to 2X weekly opening range and bounced. Closed the week below Y-1 and midpoint.
Outlook Potential 3 pushes down in place. Dow has to move above B-0 swiftly and find support at the 2nd swing low from last week to trigger a counter-trend rally with target above B+1.
Until Dow can prove itself, more downside is expected as the down side targets are not tagged yet.
Recap of Last Week As expected, range contracted significantly to just 50% of the prior week. A new low is printed without expansion into 50% downside expansion target zone ...
Overview
Emini overnight range 2120.00 to 2139.75 (at 9:00 am)
Overnight Midpoint 2130.00
Previous Week Close 2127.00
Battleplan for the Day
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Lawrence's Comment
Recap
Gold trashed so our bullish scenario played out. Got Y+1 in 1 go. End of week final squeeze pushed price even higher after 100% absolute range was reached. Closed ...
Dow 30 Feb 03 to Feb 07 Outlook
Lawrence’s Comment
Dow completely dominated by bottom pickers in the beginning of the week. Hence failed to clear the previous week close from below. As new low printed mid week, the bounce that followed could not even clear Y-1. Flushed to 2X weekly opening range and bounced. Closed the week below Y-1 and midpoint.
Outlook
Potential 3 pushes down in place. Dow has to move above B-0 swiftly and find support at the 2nd swing low from last week to trigger a counter-trend rally with target above B+1.
Until Dow can prove itself, more downside is expected as the down side targets are not tagged yet.
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