Trading Edges That Last
- You May Also Like
Lawrence's Comment Recap Failure to bounce in the beginning of the week got us the 3X target mentioned last week. After target B-2 tagged, ES turned range bound and on ...READ MORELawrence's Comment Recap Y-0 failed to act as support when the pair staged a 1-2-3 sell to break below Y-0. The normal target of Y-1 was tagged mid week. Closed the ...READ MORELawrence's Comment Recap Consolidation at 50% week range. Initial FBO against Y+1 led to a pullback to Y-0. Y-0 held and gave us a retest of Y+1. Closed the week above Y-0 ...READ MOREIntraday Cycle Projection (YM) 2023-01-093DP Odds Table (DJIA) 2019-04-04S&P 500 May 14 to May 18 Outlook3DP Odds Table (DIA) 2020-12-21AUDUSD Jun 13 to Jun 17 OutlookAUDUSD Oct 19 to Oct 23 OutlookIntraday Cycle Projection (YM) 2020-06-083DP Odds Table (DJIA) 2022-08-18Hot n Cold (DJIA) 2012-6-22Intraday Cycle Projection (DJIA) 2015-07-02
As Featured In
Dow 30 Sep 29 to Oct 03 Outlook
Lawrence’s Comment
Pullback as expected. No contest at all when pre-FOMC level was tagged. Sharp reversal again once the pocket near 16950 was tagged. Yet the squeeze failed to produce any continuation action, leading to a straight down fall to Y-1. Closed the week below Y-0 and near midpoint.
Outlook
We just experienced the wildest week in couple of years. This is not V-shape reversal as some may lead you to believe. Hence it is not a good sign of a major top, yet. What it tells us is that the market is unstable.
Even if the stock market is turning lower, I expect the wild swings to continue, meaning it can go as high as B+1 or even Y+1 on one day and then fall straight back down the very next day. It is a day trader’s heaven and nightmare for swing traders.
Share