Recap Selloff as expected. Tagged Y-1 target and 13000 round number level. But that was all the bears got. News shock sent Dow back up to the gap and closed the week above midpoint.
Outlook Both short term bottom and short term top formation are in place. Very confusing. The light volume issue persisted and is one of the reasons why we are not getting decisive price patterns.
So as long as 13200 acting as resistance like last week, there is no confirmed bottom in place.
Dow 30 Sep 03 to Sep 07 Outlook
Lawrence’s Comment
Selloff as expected. Tagged Y-1 target and 13000 round number level. But that was all the bears got. News shock sent Dow back up to the gap and closed the week above midpoint.
Outlook
Both short term bottom and short term top formation are in place. Very confusing. The light volume issue persisted and is one of the reasons why we are not getting decisive price patterns.
So as long as 13200 acting as resistance like last week, there is no confirmed bottom in place.
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