Recap As expected the push to the upside has failed and resulted in a test of Y-1. Yet Dow defended the Y-1 boundary and rallied back above Y-0. Closed the week above Y-0 and midpoint.
Outlook Outside week. Potential whiplash in play, the first boundary gets taken out will likely be FBO and the reversal will take the price to the other extreme.
Pay close attention to the direction of US dollar. It will be the leader in terms of change in direction.
Lawrence's Comment
Recap
The expected messy drift towards our resistance zone covered most part of the week. Once the resistance zone was tagged, a quick selloff took the pair back down ...
Lawrence's Comment
Recap
Another easy play last week. Y-0 acted as resistance giving us the Y-2 target as expected. Buying showed up, surprised the sell side and squeezed higher. Closed the week ...
Dow 30 Jul 29 to Aug 02 Outlook
Lawrence’s Comment
As expected the push to the upside has failed and resulted in a test of Y-1. Yet Dow defended the Y-1 boundary and rallied back above Y-0. Closed the week above Y-0 and midpoint.
Outlook
Outside week. Potential whiplash in play, the first boundary gets taken out will likely be FBO and the reversal will take the price to the other extreme.
Pay close attention to the direction of US dollar. It will be the leader in terms of change in direction.
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