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.
Lawrence's Comment
Recap
Y-0 acted as support since the start of the week and a spike down from Y+1 failed to clear that resulting in a very powerful short squeeze. Y+3 ...
Lawrence's Comment
Recap
50% previous week range consolidation. Happens often after an initiate reversal. Closed the week near midpoint.
Outlook
A run to B+1 will trigger a run to Y+1, B+2 and ...
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.
Share