Recap Dow pushed higher as expected early in the week. Since then failed to clear the upside and breached Y-0. The break led to all out sell off since. Closed the week below Y-3 and near week low.
Outlook A bounce is due but not necessary what we normally expect. It can be a huge squeeze higher thanks to the increased volatility but that does not translate to a reversal automatically. Expecting wild 2-way play all week with a slight bias for positive close on weekly basis.
Lawrence's Comment
Recap
As expected the 3 pushes up led to a selloff below Y-1. Instead of falling further, cable consolidated in range. Closed the week above midpoint.
Outlook
This week due to ...
Overview
Emini overnight range 2107.75 to 2124.50 (at 9:05 am)
Overnight Midpoint 2116.00
Previous Week Close 2120.50
Battleplan for the Day
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Dow 30 Aug 24 to Aug 28 Outlook
Lawrence’s Comment
Dow pushed higher as expected early in the week. Since then failed to clear the upside and breached Y-0. The break led to all out sell off since. Closed the week below Y-3 and near week low.
Outlook
A bounce is due but not necessary what we normally expect. It can be a huge squeeze higher thanks to the increased volatility but that does not translate to a reversal automatically. Expecting wild 2-way play all week with a slight bias for positive close on weekly basis.
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