Dow 30 May 09 to May 13 Outlook

By News Robot

Lawrence’s Comment

New high was made as expected. But we also know a short term top is in, see here, so the selloff is not a surprise.
The real surprise is that 12500 was defended and that sent Dow to pop above its weekly midpoint for a short while before falling further to close the week above Y-0.

The strength is still there as the week closed above Y-0. Bulls have not lost its control yet.
A quick retest of B-1 in the beginning of the week means the selloff is over.
The less likely scenario of a slow drift up in the beginning of the week around B-0 area means a strong selloff by end of week is possible.


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