Recap Clean spike and ledge setup worked out perfectly tagging target near Y-3 and no support until 200% range expansion was completed. Closed the week near Y-4 and week low.
Outlook The terrorist event in Paris at the end of Friday can lead to unexpected outcome this coming week. Swing resistance stands at Y-2 / B-0 while a gap down to 17000 round number lines up with 5% pullback can happen as early as Monday.
Dow 30 Nov 16 to Nov 20 Outlook
Lawrence’s Comment
Clean spike and ledge setup worked out perfectly tagging target near Y-3 and no support until 200% range expansion was completed. Closed the week near Y-4 and week low.
Outlook
The terrorist event in Paris at the end of Friday can lead to unexpected outcome this coming week. Swing resistance stands at Y-2 / B-0 while a gap down to 17000 round number lines up with 5% pullback can happen as early as Monday.
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