Recap Consolidation actions after wide range expansion was normal. ECB decisions sparked wild swings both ways. Y-0 support gave us a run for Y+2 but not enough time to get there. Closed the week above Y+1 and near week high.
Outlook Y+2 still in play. FBO against B+1 points to quick drop back down to Y+1 / B-0 and deeper fall back down to B-2 and below.
Lawrence's Comment
Recap
Y+1 cleared as expected. Consolidation action around Y+1. Closed the week above Y+1 and midpoint.
Outlook
Condolidation with strong close implies above B+1 likely. Strong reversal from above B+1 and below ...
Dow 30 Mar 14 to Mar 18 Outlook
Lawrence’s Comment
Consolidation actions after wide range expansion was normal. ECB decisions sparked wild swings both ways. Y-0 support gave us a run for Y+2 but not enough time to get there. Closed the week above Y+1 and near week high.
Outlook
Y+2 still in play. FBO against B+1 points to quick drop back down to Y+1 / B-0 and deeper fall back down to B-2 and below.
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