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.
Overview
Emini overnight range 1890.25 up to 1922.25
Overnight Midpoint 1906.25
Previous Day Mid 1888.50
Emini S&P is now trading at the bottom part of its range with a gap down. ...
Dow 30 Dec 31 to Jan 04 Outlook
Lawrence’s Comment
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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