Recap Dow tried to fill the open gap above early in the week and failed. Y-1 turned into resistance and sent Dow down to Y-2. Y-2 acted as support and produced a squeeze back up to above Y-1. Closed the week near Y-1 and midpoint.
Outlook More bullish than NQ but not quite a confirmed reversal against the forming of potential daily down trend. Y-0 / B+1 strong resistance until proven otherwise. A retest of B-1 likely.
Lawrence's Comment
Recap
Similar to prior weeks, the initial weaknesses from the gap down on monday resulted in quick rejection to even tagging Y-1. That set the stage to break ...
Dow 30 Sep 28 to Oct 02 Outlook
Lawrence’s Comment
Dow tried to fill the open gap above early in the week and failed. Y-1 turned into resistance and sent Dow down to Y-2. Y-2 acted as support and produced a squeeze back up to above Y-1. Closed the week near Y-1 and midpoint.
Outlook
More bullish than NQ but not quite a confirmed reversal against the forming of potential daily down trend. Y-0 / B+1 strong resistance until proven otherwise. A retest of B-1 likely.
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