Lawrence's Comment
Recap
More downside as expected. 50% range bounded the price actions. Closed the week near Y-1 and midpoint.
Outlook
Consolidation around Y-1 points to continuation of current trend likely. So ...
Lawrence's Comment
Recap
FBO against Y+1 gave us directional drop to Y-1 with Y-0 support breached on first try. Closed the week below Y-0 and midpoint.
Outlook
Seasonal up drift for Euro ...
Two observations
DJIA bounced off of its 200 dma on Thursday. Obviously, NDX and SPX did not.
Dow theory is not signaling a sell signal.