Recap Dow could not hold above Y-1 leading to continuation sell down to below Y-2. Formed double bottom and zoomed higher back up to above Y-1 and initiated a squeeze to Y-0. Closed the week at Y-0 and near week high.
Outlook NFP week ended like a normal NFP week. So it is likely to play out like a normal post NFP Monday and Tuesday.
Very violent price swings are expected with limited upside potential.
Lawrence's Comment
Recap
No trend as expected. Y-1 acted as support and gave us a drift up until 100% absolute range expansion was reached. Closed the week above Y-0 and midpoint.
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Dow 30 Feb 10 to Feb 14 Outlook
Lawrence’s Comment
Dow could not hold above Y-1 leading to continuation sell down to below Y-2. Formed double bottom and zoomed higher back up to above Y-1 and initiated a squeeze to Y-0. Closed the week at Y-0 and near week high.
Outlook
NFP week ended like a normal NFP week. So it is likely to play out like a normal post NFP Monday and Tuesday.
Very violent price swings are expected with limited upside potential.
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