Recap Dow tried hard to stay above Y+1 and its failure to do so led to a pullback capped by 50% previous week range. Strong rally off the support brought Dow back up to week high and above. Closed the week above Y+1 and near week high.
Outlook Interesting option expiration price actions from last week points to the potential of a sharp pullback is in the making. Another FBO against B+1 will easily led to a quick selloff back down to B-1 and below.
Overview
Emini overnight range 2110.00 up to 2087.50 (at 9:10 am)
Overnight Midpoint 2098.75
Previous Week Close 2093.75
Emini S&P is now trading at the top part of its range with ...
Dow 30 Oct 19 to Oct 23 Outlook
Lawrence’s Comment
Dow tried hard to stay above Y+1 and its failure to do so led to a pullback capped by 50% previous week range. Strong rally off the support brought Dow back up to week high and above. Closed the week above Y+1 and near week high.
Outlook
Interesting option expiration price actions from last week points to the potential of a sharp pullback is in the making. Another FBO against B+1 will easily led to a quick selloff back down to B-1 and below.
Share