Recap Pullback as expected. Pullback is very mild and Y-0 is defended. Closed the week above Y-0 and near midpoint.
Outlook Clearing B-1 will lead to a quick flush down to B-3.
Breakout above B+1, Y+2 / B+3 will be in play.
New year high is accomplished by multiple short squeezes week after week. Functional support zone is getting a bit far from the current price level already. Unless Dow can force a huge breakout to the upside from this level soon, this rally will not end pretty.
Lawrence's Comment
Recap
Brexit effect controlling cable all week. FBO Y-1 in the beginning of the week sent cable back up to Y+1. Bull flag on 4 hours pullback to 1.44 round ...
Dow 30 Sep 24 to Sep 28 Outlook
Lawrence’s Comment
Pullback as expected. Pullback is very mild and Y-0 is defended. Closed the week above Y-0 and near midpoint.
Outlook
Clearing B-1 will lead to a quick flush down to B-3.
Breakout above B+1, Y+2 / B+3 will be in play.
New year high is accomplished by multiple short squeezes week after week. Functional support zone is getting a bit far from the current price level already. Unless Dow can force a huge breakout to the upside from this level soon, this rally will not end pretty.
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