Trading Edges That Last
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Dow 30 Oct 07 to Oct 11 Outlook
Lawrence’s Comment
Dropped below 15000 as expected. Flushed down to Y-3 and support was found. Bounced back up to week mid. Closed the week near midpoint and Y-2.
Outlook
Well structured selling. No real panic. 2nd week into the stair step formation. 3rd week of such pattern is always the wildcard. Dow can either zoom back up to B+1 and above or dropping straight down to B-3 like last week.
A retest of B-1 is likely so how Dow reacts there will tell if we are going to get a flush.
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