Recap Y-0 held and Y+1 cleared gave us upside breakout. Yet Dow failed to hold Y+1 and dropped back down to week low. Surprise announcements from ECB and then China gave us the shock target of doubling the range / Y+3. Closed the week above Y+2 and midpoint.
Outlook Unusual measures from the central banks around the world has turned the global stock markets into a pinball machine. Their on-the-fly decision making with no consideration of consequence is an eye opener. If there is no more b.s. this week, we are likely to see a consolidation week going into US Thanksgiving.
Lawrence's Comment
Recap
Similar to Dow, the bear trap built on Monday caught many bears by surprise and forced them to give up. The gap above, however, capped the rally. Bounced ...
Lawrence's Comment
Recap
Consolidation around Y+1 / previous week close area. Bounded within 50% previous week range. Closed the week at Y+1 and above midpoint.
Outlook
Fought very hard to hold the Y+1 level ...
Dow 30 Nov 24 to Nov 28 Outlook
Lawrence’s Comment
Y-0 held and Y+1 cleared gave us upside breakout. Yet Dow failed to hold Y+1 and dropped back down to week low. Surprise announcements from ECB and then China gave us the shock target of doubling the range / Y+3. Closed the week above Y+2 and midpoint.
Outlook
Unusual measures from the central banks around the world has turned the global stock markets into a pinball machine. Their on-the-fly decision making with no consideration of consequence is an eye opener. If there is no more b.s. this week, we are likely to see a consolidation week going into US Thanksgiving.
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