Recap Dow consolidated around Y-0 until FOMC announcement. After announcement Dow rushed to 100% absolute range expansion target and stalled from there. Closed the week above Y-0 and near midpoint.
Outlook As long as Y-0 / B-0 zone holds, retest of B+1 and open gap fill above likely.
Lawrence's Comment
Recap
Consolidation week at 50% range. 1780 magic #. Due to overnight news shock all week, we observed surprise breakout plays almost everyday last week. Yet, S&P was still bounded ...
Lawrence's Comment
Recap
Break out upside happened but that gave us B+2 only as the news shock was immediately reversed several hours later by flip flop from the euro zone officials. ...
Dow 30 Sep 26 to Sep 30 Outlook
Lawrence’s Comment
Dow consolidated around Y-0 until FOMC announcement. After announcement Dow rushed to 100% absolute range expansion target and stalled from there. Closed the week above Y-0 and near midpoint.
Outlook
As long as Y-0 / B-0 zone holds, retest of B+1 and open gap fill above likely.
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