Recap Did not expect BOJ’s sudden announcement but the chart told us that it did not want to drop. The footprint of those who knows staring at us with not even one lower high swing on 30 minute. Full range expansion to Y+3. Closed the week above Y+2 and near week high.
Outlook The surprise “attack” of the markets likely to carry Dow higher into early next week but it may result in very strong reaction pulling Dow back down to at least taking care of the gap below. Timing-wise remember it is NFP week.
Lawrence's Comment
Recap
Unfolded exactly as mentioned last week. Consolidation within the prescribed range. A breakout of Y+1 leads to doubling the week's range.
Outlook
As long as B-0 acts as support, Y+2 ...
Lawrence's Comment
Recap
The consolidation to close midpoint the week prior to last week pointed to a retest of Y+1 and that happened right at the beginning of last week. Formed ...
Dow 30 Nov 03 to Nov 07 Outlook
Lawrence’s Comment
Did not expect BOJ’s sudden announcement but the chart told us that it did not want to drop. The footprint of those who knows staring at us with not even one lower high swing on 30 minute. Full range expansion to Y+3. Closed the week above Y+2 and near week high.
Outlook
The surprise “attack” of the markets likely to carry Dow higher into early next week but it may result in very strong reaction pulling Dow back down to at least taking care of the gap below. Timing-wise remember it is NFP week.
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