Recap Dow took off running higher off the European rumors on financials in the beginning of the week. Several more false rumors were spreaded to keep Dow from dropping. At the end of the week, however, when European markets failed to hold up themselves, Dow just sold off hard on Friday to end the week.
Outlook The whole sell off since Tuesday was pressed down off a down trendline visible on 30-minutes.
As Dow did not close below previous week close, in a sense it has performed way stronger than S&P or Nasdaq.
As long as B-1 to Y-1 is acting as support, we cannot rule out the potential of a short term bottom is in place already.
Recap of last week Previous week low tagged first as expected. Then previous month close acted as resistance, and run down to the target of previous month low - ...
Lawrence's Comment
Recap
Y-0 acted as support early in the week started a strong 1-2-3 buy with Y+3 target. That in turn started a reverse waterfall effect on daily squeezing the shorts ...
Lawrence's Comment
Recap
Y-1 held sending ninja back up to Y-0 and then Y+1. Y-0 support since helping ninja to retest and complete measured move on weekly to the upside. Closed the ...
Dow 30 Oct 03 to Oct 07 Outlook
Lawrence’s Comment
Dow took off running higher off the European rumors on financials in the beginning of the week. Several more false rumors were spreaded to keep Dow from dropping. At the end of the week, however, when European markets failed to hold up themselves, Dow just sold off hard on Friday to end the week.
Outlook
The whole sell off since Tuesday was pressed down off a down trendline visible on 30-minutes.
As Dow did not close below previous week close, in a sense it has performed way stronger than S&P or Nasdaq.
As long as B-1 to Y-1 is acting as support, we cannot rule out the potential of a short term bottom is in place already.
Share