Recap As mentioned last time, the market is unstable. Violent breakout happened to the downside. Sold off all the way to below Y-3. Closed the week below Y-3 and at week low.
Outlook Some more downside is expected early next week. Authorities will likely come out to b.s. the market back up. That points to a bounce back up to Y-2 potential.
This drop is completely expected – both by market breadth signals and analog to Y2K.
Lawrence's Comment
Recap
Slided down to Y-2 and in turn stops are triggered leading to Y-3. Support at Y-3 gave us consolidation actions since. Closed the week below Y-2 and midpoint.
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Lawrence's Comment
Recap
Avoided Euro last week and the sudden wild intraday swings last week prove the point. Closed the week below Y-0 and above midpoint.
Outlook
Y-0 / B+1 strong resistance ...
Dow 30 Jan 27 to Jan 31 Outlook
Lawrence’s Comment
As mentioned last time, the market is unstable. Violent breakout happened to the downside. Sold off all the way to below Y-3. Closed the week below Y-3 and at week low.
Outlook
Some more downside is expected early next week. Authorities will likely come out to b.s. the market back up. That points to a bounce back up to Y-2 potential.
This drop is completely expected – both by market breadth signals and analog to Y2K.
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