Recap ES cleared Y+1 boundary giving us a breakout up to almost Y+2. Reversed below and flushed back down to Y-0. Struggled to find a bottom since. Closed the week above Y-0 and below midpoint.
Outlook Y+1 is asking for a retest. Y+1 / B-0 resistance will send ES back down to challenge the support trend line formed from past 3 weeks.
Lawrence's Comment
Recap
Formed a top right within the expected zone as mentioned last week and got the significant pullback I was looking for. Closed the week below Y-1 and at week ...
S&P 500 May 19 to May 23 Outlook
Lawrence’s Comment
ES cleared Y+1 boundary giving us a breakout up to almost Y+2. Reversed below and flushed back down to Y-0. Struggled to find a bottom since. Closed the week above Y-0 and below midpoint.
Outlook
Y+1 is asking for a retest. Y+1 / B-0 resistance will send ES back down to challenge the support trend line formed from past 3 weeks.
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