Trading Edges That Last
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Dow 30 Oct 29 to Nov 02 Outlook
Lawrence’s Comment
As mentioned last week, it would be a difficult ride down. Monday broken down only resulted in an all out squeeze back up in last hour. Then collapsed totally with huge gap down and continuation selloff all day. Yet gap up significantly again on Wednesday that resulted in gap fill below and printing new low for the week. It should be clear now tagging STOPD levels like Y-3 is not a coincidence. Double bottomed there by Friday and bounced a bit. Closed the week below midpoint and Y-2.
Outlook
NFP Week next week. Time based models turned bullish.
Election in 2 weeks. Authorities likely do everything they can to stop this selloff.
Enough said.
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