Recap Consolidation actions within Y+1 and Y-0 as expected until FOMC announcement. Breakout to the upside and filled the open gap above. Closed the week above Y+1 and near week high.
Outlook Y+2 target not tagged yet and should be taken care of quickly next week. Limited upside potential with B+2 potential exhaustion run target.
Lawrence's Comment
Recap
Reacted to the head and shoulders neckline initially and dropped quickly below Y-0. Then an all out rally took place and cleared Y+1 in 1 go. After ...
Dow 30 Feb 01 to Feb 05 Outlook
Lawrence’s Comment
Consolidation actions within Y+1 and Y-0 as expected until FOMC announcement. Breakout to the upside and filled the open gap above. Closed the week above Y+1 and near week high.
Outlook
Y+2 target not tagged yet and should be taken care of quickly next week. Limited upside potential with B+2 potential exhaustion run target.
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