Recap Dow gapped higher on news related to Brexit. News driven market all the way right up to Brexit. Brexit led to gap down on Friday to Y-1 and sparked a quick rally back up to midpoint / Y-0. Y-0 resistance gave us 100% expansion off the upside range established. Closed the week below Y-1 and near week low.
Outlook Outside down week is bearish. More downside is expected. Once key support zone on monthly is tagged we can expect very sharp reversal.
Lawrence's Comment
Recap
First half of the week playing out perfectly like a normal 50% range consolidation around Y-1. Then FOMC announcement changed everything. The upside breakout of the tight range gave ...
Dow 30 Jun 27 to Jul 01 Outlook
Lawrence’s Comment
Dow gapped higher on news related to Brexit. News driven market all the way right up to Brexit. Brexit led to gap down on Friday to Y-1 and sparked a quick rally back up to midpoint / Y-0. Y-0 resistance gave us 100% expansion off the upside range established. Closed the week below Y-1 and near week low.
Outlook
Outside down week is bearish. More downside is expected. Once key support zone on monthly is tagged we can expect very sharp reversal.
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