Dow 30 Oct 21 to Oct 25 Outlook

By News Robot

Lawrence’s Comment

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.

Be reminded that NFP coming this Tuesday.

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