Recap As explained last week, Dow was locked in range and it happened again. Y+1 resistance sent Dow straight back down to Y-0 and stuck there. Closed the week near Y-0 and below midpoint.
Outlook Y-0 / B-0 now strong resistance until proven otherwise. A break of B-1 will lead to quick flush down to B-2 and below to continue the range expansion to the down side.
Lawrence's Comment
Recap
The wildest swings within a week in US stock market history. Closed the week above Y-1.
Outlook
The waterfall selloff is now completed and that the first leg of this ...
Dow 30 Jun 29 to Jul 03 Outlook
Lawrence’s Comment
As explained last week, Dow was locked in range and it happened again. Y+1 resistance sent Dow straight back down to Y-0 and stuck there. Closed the week near Y-0 and below midpoint.
Outlook
Y-0 / B-0 now strong resistance until proven otherwise. A break of B-1 will lead to quick flush down to B-2 and below to continue the range expansion to the down side.
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