Recap Monday gapped below critical support which then turned into resistance. Trend sell all week until 200% aboslute range expansion was reached. Closed the week below Y-5 and at week low.
Outlook A quick drop below B-1 and snap back up above B-1 will give us a bounce back up to Y-5 / B-0. From there we will see if selling would resume.
Lawrence's Comment
Recap
As expected, Dow failed to porduce any rally off Y+1 and crashed back down below Y-0 area. As last week was option expiration, Dow did not tag Y-1 ...
Lawrence's Comment
Recap
Consolidation around Y+1 with 50% previous week range. Closed the week at Y+1.
Outlook
Breaking about B+1 should give us B+2 quickly.
The unlikely scenario is that B-1 is breached ...
S&P 500 Jan 11 to Jan 15 Outlook
Lawrence’s Comment
Monday gapped below critical support which then turned into resistance. Trend sell all week until 200% aboslute range expansion was reached. Closed the week below Y-5 and at week low.
Outlook
A quick drop below B-1 and snap back up above B-1 will give us a bounce back up to Y-5 / B-0. From there we will see if selling would resume.
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