Recap Tight range expectation did not work out thanks to sudden weaknesses in US dollar. 100% absolute range expansion stopped Dow from going higher. Closed the week below Y-0 and near week low.
Outlook The huge open gap above will be filled if Dow can hold B-1. Breaking below B-1 will also break the longer term up trend with downside targets B-2 and B-3.
Dow 30 Sep 21 to Sep 25 Outlook
Lawrence’s Comment
Tight range expectation did not work out thanks to sudden weaknesses in US dollar. 100% absolute range expansion stopped Dow from going higher. Closed the week below Y-0 and near week low.
Outlook
The huge open gap above will be filled if Dow can hold B-1. Breaking below B-1 will also break the longer term up trend with downside targets B-2 and B-3.
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