Recap Further upside drift as expected. 2nd pop in the week tagged the upside target mentioned last week. From there Dow simply consolidated around the target zone. Closed the week near the week high and above Y+1.
Outlook Consolidated at 50% previous week range. Rising wedge in place. No change in scenario where a steep pullback is expected. The start of the wedge points to the nearest downside target between B-1 and B-2.
Lawrence's Comment
Recap
Comparing to S&P, Dow dropped more significantly and displayed weaker price action all week. Of course, we now know JPM was the reason.
Outlook
Similar to S&P, Dow ...
Lawrence's Comment
Recap
Aussie flushed to almost Y-2 before snapping back up to above Y-0 and then consolidated for the rest of the week. Closed the week above Y-1 and midpoint.
Outlook
Gold did ...
Dow 30 Oct 21 to Oct 25 Outlook
Lawrence’s Comment
Further upside drift as expected. 2nd pop in the week tagged the upside target mentioned last week. From there Dow simply consolidated around the target zone. Closed the week near the week high and above Y+1.
Outlook
Consolidated at 50% previous week range. Rising wedge in place. No change in scenario where a steep pullback is expected. The start of the wedge points to the nearest downside target between B-1 and B-2.
Be reminded that NFP coming this Tuesday.
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