Recap ES opened above Y-0 gave us the necessary excuse to challenge Y+2 as mentioned last week. Y+2 tagged leading to a pullback to previous resistance. A blowoff top late in the week gave us an all out selloff back down to a new low for the week. Closed the week below Y+1 and near week low.
Outlook FBO year high, FBO previous month high and weekly reversal. As long as B-0 acting as resistance, ES has several downside targets to take care of. Closest one is B-2.
Lawrence's Comment
Recap
As mentioned last week, loonie depends on gold to hold it up. The moment gold breached its support, loonie collapsed spiking the pair up to Y+2. Closed the week ...
S&P 500 Apr 07 to Apr 11 Outlook
Lawrence’s Comment
ES opened above Y-0 gave us the necessary excuse to challenge Y+2 as mentioned last week. Y+2 tagged leading to a pullback to previous resistance. A blowoff top late in the week gave us an all out selloff back down to a new low for the week. Closed the week below Y+1 and near week low.
Outlook
FBO year high, FBO previous month high and weekly reversal. As long as B-0 acting as resistance, ES has several downside targets to take care of. Closest one is B-2.
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