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Lawrence's Comment Recap I was looking for a reversal and we got it. The run back up to Y+1 was not a surprise. What is interesting is the continuous grind up despite ...READ MOREHot n Cold (DJIA) 2019-10-18Intraday Cycle Projection (DIA) 2020-07-103DP Odds Table (DIA) 2015-01-02Intraday Cycle Projection (DIA) 2015-04-023DP Odds Table (YM) 2012-04-093DP Odds Table (DIA) 2021-09-03Intraday Cycle Projection (YM) 2014-07-31Dow 30 Feb 09 to Feb 13 Outlook3DP Odds Table (DIA) 2015-11-113DP Odds Table (DIA) 2012-07-11
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Dow 30 Jul 25 to Jul 29 Outlook
Lawrence’s Comment
As expected, rallied most of the week once a low was established on Monday. 200% absolute range expansion completed and stalled from there. Closed the week above Y+1
Outlook
Difficult situation here. All eyes are now on US debt ceiling b.s. to be resolved. The pressure on USD across the majors last week clearly provided fuel to drive the US stock market higher.
If there is a deal, the first shock is obviously selling the news.
The details of the deal, however, will be more important after the first 20 minutes is over. If the deal is more of the same, USD will continue its self destruction path and US stocks will go higher. In this situation, we get Y+3 and Y+4 by August.
Wild swings back down to B-0 or even Y-1 is not bearish if it is driven by the 1st shock from the news. However, if B-0 acts as resistance after the shock, we will be facing a nasty sell off down to at least Y-4 to B-2 area.
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