Recap Dow held up at top zone around Y+1. Event driven breakout gave us 100% expansion off the tight range. Closed the week above Y+1 and midpoint.
Outlook Test of year high in progress. Failing to clear it will lead to sell off back down to at least B-1 and likely B-2. This is first test of the year high, the selloff expected is not necessary something bearish on long term basis.
It is 1 am Eastern Time and the overnight market is down at the moment.
Japan Nikkei is down more than 1%
But as of close of yesterday Aug 17, the Tick16 ...
Lawrence's Comment
Recap
As oppose to holding above support level, NQ sold off in the beginning of the week to right underneath the level, creating a w. upthrust against Y+1. That ...
Dow 30 Aug 15 to Aug 19 Outlook
Lawrence’s Comment
Dow held up at top zone around Y+1. Event driven breakout gave us 100% expansion off the tight range. Closed the week above Y+1 and midpoint.
Outlook
Test of year high in progress. Failing to clear it will lead to sell off back down to at least B-1 and likely B-2. This is first test of the year high, the selloff expected is not necessary something bearish on long term basis.
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