Recap Dow gapped down to longer term critical support level and rallied from there since. Although Dow has tried hard to push higher it did not get Y-0 at the end. Closed the week below Y-0 and above midpoint.
Outlook B-0 / Y-1 potential support but not necessary a strong one especially if B+1 / Y-0 is tested first and rejected.
Lawrence's Comment
Recap
Pull back as expected. Too fast so Y-0 could only hold this up for just a pause. Y-1 tagged before mid week. Springed back above Y-1 to close ...
Dow 30 Aug 03 to Aug 07 Outlook
Lawrence’s Comment
Dow gapped down to longer term critical support level and rallied from there since. Although Dow has tried hard to push higher it did not get Y-0 at the end. Closed the week below Y-0 and above midpoint.
Outlook
B-0 / Y-1 potential support but not necessary a strong one especially if B+1 / Y-0 is tested first and rejected.
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