Dow 30 Oct 17 to Oct 21 Outlook

By News Robot

Lawrence’s Comment

Recap
No pullback / no double top continuation from the week before last week. How? By gapping thru Y+1 and zoom up to Y+2.

Outlook
Clear short squeeze in progress with subtle distribution going on throughout the week as witnessed from the custom tick indices and various breadth measures.

Should Dow break below Y+1, be ready for an all out melt down to retest Y-1.

Upside potential is limited as Dow is getting back to the area where heavy resistance from monthly and higher timeframe are in place.

Share

  • You must be logged in to comment. Log in