Recap Y+1 / previous week close resistance dropped Dow back down to Y-0. Dow bounced off Y-0 to fill the gap above and stalled. After NFP Dow dropped to Y-0 again. Closed the week above Y-0 and below midpoint.
Outlook Interesting inverse spike and ledge in place. If Dow can clear B+1 quickly and that B+1 turning into support, a run back up to 18000 is in the card. More likely, however, is that Dow will 2-way swings within a wide range until one side give up.
Overview
Emini overnight range 2176.00 to 2183.00 (at 9:00 am)
Overnight Midpoint 2179.50
Previous Day Mid 2172.00
Battleplan for the Day
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Lawrence's Comment
Recap
Resistance at previous week close kept NQ from going higher with the other 2 indices. A flush back down to pre-break out crime scene produced a sharp rally clearing ...
Dow 30 Sep 07 to Sep 11 Outlook
Lawrence’s Comment
Y+1 / previous week close resistance dropped Dow back down to Y-0. Dow bounced off Y-0 to fill the gap above and stalled. After NFP Dow dropped to Y-0 again. Closed the week above Y-0 and below midpoint.
Outlook
Interesting inverse spike and ledge in place. If Dow can clear B+1 quickly and that B+1 turning into support, a run back up to 18000 is in the card.
More likely, however, is that Dow will 2-way swings within a wide range until one side give up.
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