Recap Started the week with a mild bounce as expected. After breakdown below Y-1, no support until Y-2 as stated last week. Tagged Y-2 and holding there since. Closed the week below midpoint and above Y-2.
Outlook Option expiration week updrift failure often leads to another wild swinging week. Will not be surprised that Dow can gap up tagging Y-1 and selling all the way back down to B-1 within next week. Very volatile condition means better for daytrade than swing trade.
Lawrence's Comment
Recap
Y+1 support helped ninja to push straight up to Y+3 breakout target. Closed the week near Y+3 and above midpoint.
Outlook
Initial run probably done. Y+3 resistance will signal ...
Dow 30 Nov 19 to Nov 23 Outlook
Lawrence’s Comment
Started the week with a mild bounce as expected. After breakdown below Y-1, no support until Y-2 as stated last week. Tagged Y-2 and holding there since. Closed the week below midpoint and above Y-2.
Outlook
Option expiration week updrift failure often leads to another wild swinging week. Will not be surprised that Dow can gap up tagging Y-1 and selling all the way back down to B-1 within next week. Very volatile condition means better for daytrade than swing trade.
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