Recap Expected a pullback from the selloff but not a straight up like what we got last week. Closed the week near week high right underneath 13000 round number and above Y+1.
Outlook Dow pullback to where the head and shoulder formation neckline is. Should Dow failed to go higher next week, it will confirm the resistance of the neckline and further decline will be likely.
If Dow can clear the neckline resistance, the gap above will be filled as B+2 is an easy target to spike to if they feed out more news to squeeze the shorts.
Lawrence's Comment
Recap
Easy play of the week. Dropped the Y-2 as expected and then produced a double bottom there and bounced back up to make a new high for the week. ...
Lawrence's Comment
Recap
Breakout happened and it was to the upside too, no surprise to anyone who read my comment last week. =) 100% absolute range expansion stopped the move and ...
Dow 30 Nov 26 to Nov 30 Outlook
Lawrence’s Comment
Expected a pullback from the selloff but not a straight up like what we got last week. Closed the week near week high right underneath 13000 round number and above Y+1.
Outlook
Dow pullback to where the head and shoulder formation neckline is. Should Dow failed to go higher next week, it will confirm the resistance of the neckline and further decline will be likely.
If Dow can clear the neckline resistance, the gap above will be filled as B+2 is an easy target to spike to if they feed out more news to squeeze the shorts.
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