Recap As explained last week, weekly up trend intact and that is good enough reason to send Dow back up to fill the open gap above. Gap fill led to selling back down to near the open gap below. Dow found support and shoot back up to produce a new high for the week before stalling. Closed the week above Y-0 and midpoint.
Outlook Inside week up close is bullish for a test of Y+1. Y+1 resistance will easily send Dow back down to Y-0 again.
Lawrence's Comment
Recap
First week of the year found resistance at Y-0 and selloff down to Y-3. Closed the week near Y-3 and week low.
Outlook
USD strength across the board against ...
Dow 30 Apr 27 to May 01 Outlook
Lawrence’s Comment
As explained last week, weekly up trend intact and that is good enough reason to send Dow back up to fill the open gap above. Gap fill led to selling back down to near the open gap below. Dow found support and shoot back up to produce a new high for the week before stalling. Closed the week above Y-0 and midpoint.
Outlook
Inside week up close is bullish for a test of Y+1. Y+1 resistance will easily send Dow back down to Y-0 again.
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