Recap As explained in details last week, there is very limited downside potential and ninja is likely to push higher. Ninja consolidated around Y+1 and breakout to the upside and tagged the normal breakout target of Y+3. Closed the week above Y+2 and midpoint.
Outlook Breakout on weekly. 120 potential support for more upside on weekly basis. Next week, however, is more likely to consolidate around B-0.
Lawrence's Comment
Recap
Pullback to near Y-0 as expected. Going sideway consolidation around previous week close in 50% range. Closed the week above Y-1 and near midpoint.
Outlook
Consolidation after wide range ...
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Lawrence's Comment
Recap
ES followed the other 2 indices making a major reversal. Custom breadth models correctly identified the expected weaknesses. Closed the week below Y-1 and near week low.
Outlook
Y-1 ...
Lawrence's Comment
Recap
The critical support level failed and slided towards my target. Picture perfect FBO on weekly and monthly level. Closed the week below Y-2.
Outlook
If Y-3 is tagged early ...
USDJPY Mar 09 to Mar 13 Outlook
Lawrence’s Comment
As explained in details last week, there is very limited downside potential and ninja is likely to push higher. Ninja consolidated around Y+1 and breakout to the upside and tagged the normal breakout target of Y+3. Closed the week above Y+2 and midpoint.
Outlook
Breakout on weekly. 120 potential support for more upside on weekly basis. Next week, however, is more likely to consolidate around B-0.
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