Recap Dow tried to fill the open gap above early in the week and failed. Y-1 turned into resistance and sent Dow down to Y-2. Y-2 acted as support and produced a squeeze back up to above Y-1. Closed the week near Y-1 and midpoint.
Outlook More bullish than NQ but not quite a confirmed reversal against the forming of potential daily down trend. Y-0 / B+1 strong resistance until proven otherwise. A retest of B-1 likely.
Lawrence's Comment
Recap
Upside target Y+2 tagged. 1.33 resistance area challenged as expected. Closed the week above Y+1.
Outlook
Critical moment for euro here.
If it can break above 1.33 area and ...
Lawrence's Comment
Recap
Rally continued until Y+2 is tagged. News shock from Euro zone induced a sharp selloff back down to above 1.00, slightly higher than Y-0. Closed the week ...
Dow 30 Sep 28 to Oct 02 Outlook
Lawrence’s Comment
Dow tried to fill the open gap above early in the week and failed. Y-1 turned into resistance and sent Dow down to Y-2. Y-2 acted as support and produced a squeeze back up to above Y-1. Closed the week near Y-1 and midpoint.
Outlook
More bullish than NQ but not quite a confirmed reversal against the forming of potential daily down trend. Y-0 / B+1 strong resistance until proven otherwise. A retest of B-1 likely.
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