Recap Dow held up at top zone around Y+1. Event driven breakout gave us 100% expansion off the tight range. Closed the week above Y+1 and midpoint.
Outlook Test of year high in progress. Failing to clear it will lead to sell off back down to at least B-1 and likely B-2. This is first test of the year high, the selloff expected is not necessary something bearish on long term basis.
Lawrence's Comment
Recap
Bearish tone in beginning of the week forced a break down below Y-1. Then the spike reversal mentioned last week happened, gave us a go for Y-0 and above. ...
Dow 30 Aug 15 to Aug 19 Outlook
Lawrence’s Comment
Dow held up at top zone around Y+1. Event driven breakout gave us 100% expansion off the tight range. Closed the week above Y+1 and midpoint.
Outlook
Test of year high in progress. Failing to clear it will lead to sell off back down to at least B-1 and likely B-2. This is first test of the year high, the selloff expected is not necessary something bearish on long term basis.
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