Recap Suffered same problem like Dow. No holding strength at intraday support levels at all. Did not find real support until 100% range expansion. Closed the week below Y-0 and near midpoint.
Outlook Similar to Dow but weaker in formation as Y-1 was cleared. Strong resistance zone created at Y-0 / B-0 zone. As long as ES fails to clear B+1, bias towards a retest of Y-1 is in the card.
Lawrence's Comment
Recap
Previous week close support sent cable up to test Y-1. Y-1 resistance dropped this back down to week low / 1.41 round number. Closed the week above Y-0 and ...
Lawrence's Comment
Recap
Instead of selling right off the start of the week, the 3 stock market indices chose to form a bigger top and sold off hard the rest of ...
S&P 500 Jul 14 to Jul 18 Outlook
Lawrence’s Comment
Suffered same problem like Dow. No holding strength at intraday support levels at all. Did not find real support until 100% range expansion. Closed the week below Y-0 and near midpoint.
Outlook
Similar to Dow but weaker in formation as Y-1 was cleared. Strong resistance zone created at Y-0 / B-0 zone. As long as ES fails to clear B+1, bias towards a retest of Y-1 is in the card.
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