Recap As mentioned last time, the market is unstable. Violent breakout happened to the downside. Sold off all the way to below Y-3. Closed the week below Y-3 and at week low.
Outlook Some more downside is expected early next week. Authorities will likely come out to b.s. the market back up. That points to a bounce back up to Y-2 potential.
This drop is completely expected – both by market breadth signals and analog to Y2K.
Lawrence's Comment
Recap
As expected, Y-0 resistance with a test of Y-1 after flat line action in the beginning of the week. Closed the week near Y-1 and week low.
Outlook
Weekly ...
Dow 30 Jan 27 to Jan 31 Outlook
Lawrence’s Comment
As mentioned last time, the market is unstable. Violent breakout happened to the downside. Sold off all the way to below Y-3. Closed the week below Y-3 and at week low.
Outlook
Some more downside is expected early next week. Authorities will likely come out to b.s. the market back up. That points to a bounce back up to Y-2 potential.
This drop is completely expected – both by market breadth signals and analog to Y2K.
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