Recap Short squeeze back up to Y+1 as expected filling the open gap above. The move was so dirty that it was erased right after and led to spike reversal for Y-1 play. Tagged Y-1 at the end of the week. Closed the week below Y-1 and near week low.
Outlook Outside reversal week is bearish for downside range expansion. Until normal target B-2 is reached there is no support.
Lawrence's Comment
Recap
Ninja flushed below Y-3 as expected with no snap back. Y-4 acted as support since. Closed the week below Y-3 and midpoint.
Outlook
Brexit can indirectly affects ninja jumping ...
Dow 30 May 16 to May 20 Outlook
Lawrence’s Comment
Short squeeze back up to Y+1 as expected filling the open gap above. The move was so dirty that it was erased right after and led to spike reversal for Y-1 play. Tagged Y-1 at the end of the week. Closed the week below Y-1 and near week low.
Outlook
Outside reversal week is bearish for downside range expansion. Until normal target B-2 is reached there is no support.
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