Recap As expected Dow drifted up first last week. Once the Y+2 target is tagged, selling piled on and closed the week tagging close of the week prior to last week.
Outlook Further weaknesses is expected as long as Y+1 to B-0 acts as resistance. Next downside target is B-2.
Lawrence's Comment
Recap
No further selloff. Rallied straight up from the bottom of the established range to the top of the range in a week. Closed the week above Y+1.
Outlook
Outside ...
Dow 30 Sep 05 to Sep 09 Outlook
Lawrence’s Comment
As expected Dow drifted up first last week. Once the Y+2 target is tagged, selling piled on and closed the week tagging close of the week prior to last week.
Outlook
Further weaknesses is expected as long as Y+1 to B-0 acts as resistance. Next downside target is B-2.
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