Recap Dow completely dominated by bottom pickers in the beginning of the week. Hence failed to clear the previous week close from below. As new low printed mid week, the bounce that followed could not even clear Y-1. Flushed to 2X weekly opening range and bounced. Closed the week below Y-1 and midpoint.
Outlook Potential 3 pushes down in place. Dow has to move above B-0 swiftly and find support at the 2nd swing low from last week to trigger a counter-trend rally with target above B+1.
Until Dow can prove itself, more downside is expected as the down side targets are not tagged yet.
When the stock market is selling off in panic mode, the authorities would step in.
It is not something new. It is not personal. Things are done in the name of ...
Lawrence's Comment
Recap
Dow trapped in Y-0 to Y+1 most of the week until Friday option expiration. It then took off when news about Greece debt agreement were fed out. Closed the ...
Dow 30 Feb 03 to Feb 07 Outlook
Lawrence’s Comment
Dow completely dominated by bottom pickers in the beginning of the week. Hence failed to clear the previous week close from below. As new low printed mid week, the bounce that followed could not even clear Y-1. Flushed to 2X weekly opening range and bounced. Closed the week below Y-1 and midpoint.
Outlook
Potential 3 pushes down in place. Dow has to move above B-0 swiftly and find support at the 2nd swing low from last week to trigger a counter-trend rally with target above B+1.
Until Dow can prove itself, more downside is expected as the down side targets are not tagged yet.
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