Recap Open the week with clean break above Y+1 opened the door to Y+2 and Y+3 since. Multiple attempts to go lower has failed leading to end of week rally to almost Y+3. Closed the week above Y+2 and midpoint.
Outlook End of week flush lower was direct reaction to the conflict in Ukraine. Althought S&P has recovered it does not change the fact that people may not react well to the current development there.
Looking for range bounded actions below B+1 and B-1.
Lawrence's Comment
Recap
Retest of Y+1 / 1.66 round number level confirmed its resistance status. That opened the door to Y-0 and below. Closed the week below Y-0 and near week low.
Outlook
Y-0 ...
S&P 500 Mar 03 to Mar 07 Outlook
Lawrence’s Comment
Open the week with clean break above Y+1 opened the door to Y+2 and Y+3 since. Multiple attempts to go lower has failed leading to end of week rally to almost Y+3. Closed the week above Y+2 and midpoint.
Outlook
End of week flush lower was direct reaction to the conflict in Ukraine. Althought S&P has recovered it does not change the fact that people may not react well to the current development there.
Looking for range bounded actions below B+1 and B-1.
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