Recap S&P followed Dow’s lead broke out upside. Stopped going higher right below 100% absolute range expansion when Dow completed its run. Immediately collapsed back down to previous week close. Closed the week above Y+1 and below midpoint.
Outlook Clearing B-0 on daily points to up move continuation with B+2 in play. Do not get in its way until confirmed weaknesses in breadth.
B-0 acting as resistance points to a 3rd leg down to Y-0 only. Until a break of B-1 and that turning into resistance that we know the daily uptrend is broken.
Lawrence's Comment
Recap
Y-0 to Y+1 was not even challenged. Aussie dropped straight down to Y-3 , the 200% range expansion target. Bounced back up from there to close near Y-1.
Outlook
Down ...
S&P 500 Nov 04 to Nov 08 Outlook
Lawrence’s Comment
S&P followed Dow’s lead broke out upside. Stopped going higher right below 100% absolute range expansion when Dow completed its run. Immediately collapsed back down to previous week close. Closed the week above Y+1 and below midpoint.
Outlook
Clearing B-0 on daily points to up move continuation with B+2 in play. Do not get in its way until confirmed weaknesses in breadth.
B-0 acting as resistance points to a 3rd leg down to Y-0 only. Until a break of B-1 and that turning into resistance that we know the daily uptrend is broken.
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