Trading Edges That Last
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Dow 30 Apr 30 to May 04 Outlook
Lawrence’s Comment
Was looking for a bottom early in the week and we got it. Tagged Y+2 as expected. Who would have believed me last week when I call for that?
Outlook
A challenge of year high is in play. It will be a difficult ride from here as last time Dow touched its year high zone resulted in very violent reaction. What that means is that the real top is already in place for Dow according to STOPD. The top that we are going to print from here is can go higher but it is not likely going to be sustainable.
Dow should be able to hold B-0 and a rally above year high will zoom it to B+2 area. Range bounded wild swing in this area is likely to last til June / July to produce a rounding top.
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