Recap Weakest of the 3 major indices. The dirty bottom mentioned last week was being retested by the end of the week. Closed the week below Y-3 and near week low.
Outlook Directional momentum moves cannot be stopped easily. More downside is expected. Until B-1 turning into support after flushed through, we do not have a strong case for counter-trend bounce play.
Dow 30 Jul 27 to Jul 31 Outlook
Lawrence’s Comment
Weakest of the 3 major indices. The dirty bottom mentioned last week was being retested by the end of the week. Closed the week below Y-3 and near week low.
Outlook
Directional momentum moves cannot be stopped easily. More downside is expected. Until B-1 turning into support after flushed through, we do not have a strong case for counter-trend bounce play.
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