Recap Bearish weaknesses persisted in the beginning of the week yet Y-1 was never challenged even though ES sold off from Y-0 quickly. 2nd challenge at Y-0 from below cleared the resistance and gave us a breakout of 100% the double bottom range. Closed the week above Y-0 and near week high.
Outlook Inside week. Wide range week. Very unusual combination. As long as B+1 not cleared OR failed to hold as support after a breakout to the upside, a drop back down to B-0 is likely.
Lawrence's Comment
Recap
Upside push failed to clear Y+1 resistance resulted in retest of Y-0. Break of Y-0 in just 1 try, gapped to Y-1 and flushed down to Y-2 target mentioned ...
Review of Forecast for Aug 10, 2015
Sideway market expectation was correct but China's sudden devaluation actions amplified the magnitude of the two-way market from the expected 1% to 1.5%. Swing ...
Recap of Last Week Topped at the yellow zone and sold off. Downside target where the obvious gap zone is was tagged and in turn produced a powerful squeeze ...
S&P 500 Apr 21 to Apr 25 Outlook
Lawrence’s Comment
Bearish weaknesses persisted in the beginning of the week yet Y-1 was never challenged even though ES sold off from Y-0 quickly. 2nd challenge at Y-0 from below cleared the resistance and gave us a breakout of 100% the double bottom range. Closed the week above Y-0 and near week high.
Outlook
Inside week. Wide range week. Very unusual combination. As long as B+1 not cleared OR failed to hold as support after a breakout to the upside, a drop back down to B-0 is likely.
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