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Dow 30 Jul 11 to Jul 15 Outlook
Lawrence’s Comment
Quick steep pullback in the beginning of the week. Then pre-Brexit weekly close acted as support and led to test of Y+1. 2nd attempt at Y+1 cleared the resistance until 50% absolute range was reached. Closed the week above Y+1 and near week high.
Outlook
Bullish version of consolidation week as Dow traveled equal distance from previous week close. More upside likely but it can also be a top in the making. If Dow fails to tag B+2 after breaking about B+1 and dropped quickly below Y+1 we have a potential FBO on weekly timeframe with Y-0 and below in play.
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