Trading Edges That Last
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As Featured In
Dow 30 May 27 to May 31 Outlook
Lawrence’s Comment
Dow zoomed up on no volume initially and exploded to Y+2 with a sharp reversal. Signature blowoff top in place pointing to a drop back down to Y-0. With just one quick seloff we got Y-0 already. Dow then entered consolidation since. Closed the week above Y-0 and midpoint midpoint.
Outlook
A move back up to Y+1 / B-0 to rechallenge the original topping zone is possible but not necessary.
Expect consolidation between B-0 down to B-1 until another event triggering a breakout. Slight bias towards a drop back down to 15000 as long as B-0 acting as resistance.
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