Recap Pullback to Y-0 and took off immediately. Got the upside target 12900 as mentioned last week. Closed the week at Y+1 and midpoint.
Outlook So far Dow has failed to move out of the gap range as it gapped down from 12900 and did not fill the gap above before the close of the week. That implies very strong resistance at the 12900 boundary.
As long as B-0 holds, expect the gap above to be filled but no conviction that B+1 will be cleared by next week.
If B-0 fails to act as support, there is nothing underneath to support Dow until 12500-12600 zone. So long side players have to be very careful with swing longs.
Lawrence's Comment
Recap
The above Y-2 bottoming scenario unfolded. Double bottom with a run to Y+1 by end of the week. Closed the week above Y-0 and at week high.
Outlook
B-0 ...
Lawrence's Comment
Recap
Dow rallied as expected towards 12200, but it stopped at 12150 when it reached 100% absolute range expansion and sold off since. Sell climax hit when Y-1 was ...
Dow 30 Jul 23 to Jul 27 Outlook
Lawrence’s Comment
Pullback to Y-0 and took off immediately. Got the upside target 12900 as mentioned last week. Closed the week at Y+1 and midpoint.
Outlook
So far Dow has failed to move out of the gap range as it gapped down from 12900 and did not fill the gap above before the close of the week. That implies very strong resistance at the 12900 boundary.
As long as B-0 holds, expect the gap above to be filled but no conviction that B+1 will be cleared by next week.
If B-0 fails to act as support, there is nothing underneath to support Dow until 12500-12600 zone. So long side players have to be very careful with swing longs.
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