Trading Edges That Last
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Lawrence's Comment Recap Spike and ledge with resistance at Y-0 worked out to the downside. Y-2 acted as support. Closed the week near Y-2 and week low. Outlook More downside is expected ...READ MORERecap of Last Week Last week of the year played out from the classic year end playbook - sell to prior week low (well, we gapped to there on ...READ MOREFor more information about this report please refer to the Market Bias Informant pageREAD MORELawrence's Comment Recap As expected, the FBO mentioned last week gave us a drop back down to Y-0 and then Y-1. That turned Y-0 into strong resistance. Retest of Y-0 failed. ES ...READ MOREGBPUSD Jul 06 to Jul 10 OutlookS&P 500 Jan 3rd to Jan 7th OutlookIntraday Cycle Projection (DJIA) 2018-07-06Precog Vision – US Indices 2011-11-21Real-time Commentaries 2022-6-21S&P 500 Sep 29 to Oct 03 Outlook3DP Odds Table (DJIA) 2013-11-053DP Odds Table (YM) 2017-02-163DP Odds Table (YM) 2022-11-153DP Odds Table (DIA) 2013-07-25
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Dow 30 May 30 to Jun 03 Outlook
Lawrence’s Comment
Tried hard to produce the extreme bearish formation of Y-1 acting as resistance and failed to do so. That points to a retest of previous close area that just happened to be Y-0. The tagging happened later in the week.
Outlook
Rejection of going lower from Y-1 means Y-0 and Y+1 are in play.
Once we get a breakout above B+1, Y+1 is likely.
The less likely scenario is that it drops back down to Y-1 for another fight there. As long as B-1 acts as support, it is not a good short formation.
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