Trading Edges That Last
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As Featured In
Dow 30 Jul 15 to Jul 19 Outlook
Lawrence’s Comment
Dow simply hopped thru the Y+1 resistance and never looked back. The bullish bias from last week worked out. YM has to complete 100% range expansion first before it stopped. Closed the week above Y+3 and midpoint.
Outlook
Weekly level push up sent Dow to test the upside boundary again. For the bears, remember parabolic run do not usually ends in a limbo top. They tend to do a melt up top before it stops. It is best to wait for the confirmed weekly reversal first.
Hence this week will be very tricky to play. Potential of tagging both B+3 and B-1 in play.
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