Recap Attempted V-reverssal at the start of the week by holding above Y-0 failed. Dow collapsed lower until Y-1 was tagged. FBO against Y-1 gave us Y-0 target. Closed the week near Y-0 and above midpoint.
Outlook Back to the former congestion zone that Dow spent months within. Dow failing to hold above B+1 will drop it lower back down to Y-1.
Lawrence's Comment
Recap
Higher low was made with a drift up until 100% absolute range reached. Closed the week near Y+1 and above midpoint.
Outlook
Instead of forming a good bottom, ninja was forced ...
Dow 30 Sep 05 to Sep 09 Outlook
Lawrence’s Comment
Attempted V-reverssal at the start of the week by holding above Y-0 failed. Dow collapsed lower until Y-1 was tagged. FBO against Y-1 gave us Y-0 target. Closed the week near Y-0 and above midpoint.
Outlook
Back to the former congestion zone that Dow spent months within. Dow failing to hold above B+1 will drop it lower back down to Y-1.
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