S&P 500 Oct 21 to Oct 25 Outlook

Recap
I was expecting something like what happened to Dow and instead got a run like NQ. ES started out the week defending Y+1 and then pushed higher to tag the expected resistance zone. With help from NQ since, ES zoomed through the upside target. Completed 100% absolute range expansion. Closed the week near week high and above midpoint.

Outlook
2nd half of the week showing early signs of distribution in some stocks. ES moved higher on very limited number of stocks. A dangerous setup that both swing long and short would be too risky due to the change in volatility behaviour. A game best played by capturing intraday moves only.

On chart pattern basis, multiple pockets and open gaps pointed to an exhaustion run in place. The first down move at 12 points or more will open the doorway to a pullback of 25 to 30 points.

50/50 chance for a whiplash B+1 down to B-1 setup in place.