Dow 30 Dec 31 to Jan 04 Outlook

By News Robot

Lawrence’s Comment

Recap
Got the breakout I was looking for. Breaking to the downside gave us the normal Y-2 target in 1 go. Retest of Y-1 was nasty as it was done with a rumor. The very next day Dow resumed to flush. Closed the week at the low and below Y-2.

Outlook
Down trend established. As long as B-0 stays as resistance a push to B-2 is in the card.

The tricky part was mentioned in comments on NQ. Due to the Friday after hours drop in the index futures, we may end up with a huge down gap by Monday open. If that is the case, as long as the 1st 2 days next week do not drop a lot more to the down side will indicate an important swing low is in the making.

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