Trading Edges That Last
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Lawrence's Comment Recap Pullback over first 2 days and then NFP week pattern took over. Closed the week above Y+1 and midpoint. Outlook Thin rising channels do not last. They are also ...READ MOREFor more information about this report please refer to the Market Bias Informant pageREAD MOREFor more information about this report please refer to the Market Bias Informant pageREAD MOREFor more information about this report please refer to the Market Bias Informant pageREAD MORES&P 500 Nov 10 to Nov 14 OutlookPrecog Vision – US Indices 2017-1-5Hot n Cold (DIA) 2012-10-2Precog Vision – US Indices 2014-1-17Intraday Cycle Projection (DJIA) 2021-06-223DP Odds Table (YM) 2016-09-27Precog Vision – US Indices 2023-5-17Hot n Cold (DJIA) 2019-5-31Real-time Commentaries 2023-2-16Weekly Cycle Projection (YM) 2017-07-05
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Dow 30 Oct 27 to Oct 31 Outlook
Lawrence’s Comment
The magic of intervention took Dow back up to where the waterfall selloff started. Leaving behind 3 huge open gaps with the strongest single leg bounce on daily in the history of the US stock market after a 10% correction.
Outlook
Why Fed panic is the question we have to ask ourselves. The answer is that weaknesses often lead to more weaknesses. Normal selling can lead to panic selling. Monday is last day of Fed’s POMO and last 2 QE did not end well at all for the stock market. Hence the US stock market is not allowed to trade even near the bottom area of the correction.
The rising wedge on Dow points to a break down to the start of the wedge which can be either 16300 or 16000. Given the way PPT working so hard, I’ll say 16300 will have strong support.
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