Recap Data problem affecting the chart so the price levels are not drawn correctly. Weaknesses in the beginning of the week failed to take Dow back down to Y-0. That forced weak shorts to cover. The natural target of 50% range around Y+1 after a strong week happened. Closed the week above Y+1.
Outlook The stock markets worldwide are dragged higher due to the way euro was moving.
Not a good time to think of going long on swing basis from here. However, there is no sign of a significant drop in the making either.
Many people are fixated on the idea of long term "investment" while others would like to explore for better return day trading. Here is an interesting chart with net gains ...
Lawrence's Comment
Recap
Target of 1.20 tagged early in the week. Then SNB mess sent this back down to Y-0 support. A squeeze was launched with parabolic target at Y+3 tagged by ...
Lawrence's Comment
Recap
Weak upside drift early in the week ended with news shock mid week by ECB taking cable upto Y+2. Y+2 stopped the run and sent cable back below Y+1. ...
Dow 30 Feb 27 to Mar 02 Outlook
Lawrence’s Comment
Data problem affecting the chart so the price levels are not drawn correctly. Weaknesses in the beginning of the week failed to take Dow back down to Y-0. That forced weak shorts to cover. The natural target of 50% range around Y+1 after a strong week happened. Closed the week above Y+1.
Outlook
The stock markets worldwide are dragged higher due to the way euro was moving.
Not a good time to think of going long on swing basis from here. However, there is no sign of a significant drop in the making either.
Wait and see kind of market at the moment.
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