Recap As explained last week, Dow was locked in range and it happened again. Y+1 resistance sent Dow straight back down to Y-0 and stuck there. Closed the week near Y-0 and below midpoint.
Outlook Y-0 / B-0 now strong resistance until proven otherwise. A break of B-1 will lead to quick flush down to B-2 and below to continue the range expansion to the down side.
Dow 30 Jun 29 to Jul 03 Outlook
Lawrence’s Comment
As explained last week, Dow was locked in range and it happened again. Y+1 resistance sent Dow straight back down to Y-0 and stuck there. Closed the week near Y-0 and below midpoint.
Outlook
Y-0 / B-0 now strong resistance until proven otherwise. A break of B-1 will lead to quick flush down to B-2 and below to continue the range expansion to the down side.
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