Trading Edges That Last
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As Featured In
Dow 30 Oct 03 to Oct 07 Outlook
Lawrence’s Comment
Dow gapped below support zone and flushed straight down to Y-1 first before finding support. FBO against Y-1 gave us a run back up to Y-0 and gap fill. Monday high support gave us a run for 100% absolute range expansion before Dow stalled again. Y-1 support helped Dow to surge higher on Friday to print week high. Closed the week above Y-0 and midpoint.
Outlook
Clear attempt to break above the weekly resistance line last week. As long as Dow can hold above Y-0/B-0 zone there is a good chance we see B+2 and above quickly.
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