Recap A frustrating week for many. As oppose to finding resistance at Y-0 and start a pullback, ES managed to hold in a tight range above previous week close. By the time NFP was out, it managed to hold week mid and blasted higher to close above previous year close. Closed the week above Y-0 and midpoint.
Outlook Bullish for a test of Y+1. Breadth deteriorated a lot. This push up will likely be carried by a few names only.
Expect sudden volatility this week due to compression in tick reading.
Lawrence's Comment
Recap
Similar to Dow except weaker. Gap top tested and bounced off. But failed to force for a gap fill above as well.
Outlook
Seldom do we get ES to ...
Lawrence's Comment Recap Similar to Dow except weaker. Gap top tested and bounced off. But failed to force for a gap fill above as well. Outlook Seldom do we get ES to ...READ MORE
S&P 500 Jan 13 to Jan 17 Outlook
Lawrence’s Comment
A frustrating week for many. As oppose to finding resistance at Y-0 and start a pullback, ES managed to hold in a tight range above previous week close. By the time NFP was out, it managed to hold week mid and blasted higher to close above previous year close. Closed the week above Y-0 and midpoint.
Outlook
Bullish for a test of Y+1. Breadth deteriorated a lot. This push up will likely be carried by a few names only.
Expect sudden volatility this week due to compression in tick reading.
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