Recap Dow gapped down to longer term critical support level and rallied from there since. Although Dow has tried hard to push higher it did not get Y-0 at the end. Closed the week below Y-0 and above midpoint.
Outlook B-0 / Y-1 potential support but not necessary a strong one especially if B+1 / Y-0 is tested first and rejected.
Lawrence's Comment
Recap
Pullback below Y-0 early in the week confirmed potential weaknesses. After test of Y+1 and failing to breakout above that, selloff started and dropped down to Y-1 in ...
Dow 30 Aug 03 to Aug 07 Outlook
Lawrence’s Comment
Dow gapped down to longer term critical support level and rallied from there since. Although Dow has tried hard to push higher it did not get Y-0 at the end. Closed the week below Y-0 and above midpoint.
Outlook
B-0 / Y-1 potential support but not necessary a strong one especially if B+1 / Y-0 is tested first and rejected.
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