"Weekly Outlook" Posts
Dow 30 May 19 to May 23 Outlook
By News Robot
Lawrence’s Comment Recap Not even a contest at Y-0, Dow gapped up and cleared Y+1 right from the start. That opened the door to Y+2. Then the reversal right below Y+2 opened the door to Y-0. We got Y-0 in 1 go. Dow then struggled to hold the up trend line formed over the past […]
GBPUSD May 19 to May 23 Outlook
By News Robot
Lawrence’s Comment Recap Easy play of the week. Stopped at resistance mentioned last week and flushed down to Y-2 1st target below. Closed the week below Y-1 and near midpoint. Outlook As long as Y-1 / B-0 acting as resistance, retest of B-1 likely. A break of B-1 will give us another clean flush to […]
AUDUSD May 19 to May 23 Outlook
By News Robot
Lawrence’s Comment Recap Consolidation around previous week close as expected. 50% range. Closed the week above Y-0 and near midpoint. Outlook The consolidation exposed the weaknesses in Aussie as the reaction to Y+1 was very strong. A longer pullback is probably in play if Y+1 / B+1 caps the upside. Downside target around B-2.
USDJPY May 19 to May 23 Outlook
By News Robot
Lawrence’s Comment Recap Ninja held support, no follow-thru to the downside as expected. A spike back up to Y+1 failed to hold, gave us a drop to Y-0 and eventually Y-1. Closed the week near Y-1 and below B-0. Outlook The Y-1 / B-1 zone has been the support for months. Every time it is […]
USDCAD May 19 to May 23 Outlook
By News Robot
Lawrence’s Comment Recap As expected, consolidation near Y-0 with tight range. Closed the week below Y-0 and near week low. Outlook Y-1 is asking for a retest. It is lined up with B-2 which makes it a stronger magnet. A strong reaction to B-2 that snap back up above B-1 will set the stage for […]
EURUSD May 19 to May 23 Outlook
By News Robot
Lawrence’s Comment Recap More downside, 50% week range in consolidation style. Closed the week below Y-1 and midpoint. Outlook Unusual moves from ECB to ensure euro drops more. Remember the original acceptable range as “prescribed” by Merkel was 1.32 to 1.36. A test of 1.36 is likely.
S&P 500 May 19 to May 23 Outlook
By News Robot
Lawrence’s Comment Recap ES cleared Y+1 boundary giving us a breakout up to almost Y+2. Reversed below and flushed back down to Y-0. Struggled to find a bottom since. Closed the week above Y-0 and below midpoint. Outlook Y+1 is asking for a retest. Y+1 / B-0 resistance will send ES back down to challenge […]
Nasdaq 100 May 19 to May 23 Outlook
Lawrence’s Comment Recap NQ started the week above Y+1 invalidated its down trend, making Y-0 strong support. NQ then failed to hold above Y+1 and flushed down to support. NQ held the support zone and bounced. Closed the week above Y-0 and midpoint. Outlook Those who do not look at the weekly and daily timeframe […]