Recap Tight range expectation did not work out thanks to sudden weaknesses in US dollar. 100% absolute range expansion stopped Dow from going higher. Closed the week below Y-0 and near week low.
Outlook The huge open gap above will be filled if Dow can hold B-1. Breaking below B-1 will also break the longer term up trend with downside targets B-2 and B-3.
Lawrence's Comment
Recap
Similar to prior weeks, the initial weaknesses from the gap down on monday resulted in quick rejection to even tagging Y-1. That set the stage to break ...
Dow 30 Sep 21 to Sep 25 Outlook
Lawrence’s Comment
Tight range expectation did not work out thanks to sudden weaknesses in US dollar. 100% absolute range expansion stopped Dow from going higher. Closed the week below Y-0 and near week low.
Outlook
The huge open gap above will be filled if Dow can hold B-1. Breaking below B-1 will also break the longer term up trend with downside targets B-2 and B-3.
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