Dow 30 Mar 18 to Mar 22 Outlook

By News Robot

Lawrence’s Comment

Recap
Unlike NQ, Dow refused to even consolidate below Y+1. Instead it popped higher and sit above Y+1. Eventually that led to the upside breakout and doubled the range of the week and paused. Closed the week above Y+1 and midpoint.

Outlook
The thin upchannel was broken by end of the week yet there was no negative reaction. This could be caused by option expiration.

Once B-1 is breached, I am looking for at least a drop to below B-3 to fill the gap below.

As long as it holds, it is difficult to tell if Dow still has enough fuel for another push higher.

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