Recap No selloff materialized as the gap and go play took over. Unlike Dow still trading below its all time high, ES has been pushing a new one this week hence the resistance it was facing below Y+3. Closed the week above Y+2 and midpoint.
Outlook Another ATH play. If ES fails to close above the original high printed last month, we have a FBO in place for a serious pullback.
Normal expectation is that ES will trade in 50% range around the previous week close.
Lawrence's Comment
Recap
Rally all the way back to original resistance underneath Y+1. 1-2-3 sell off from there back to almost Y-1. Closed the week between Y-0 and Y-1.
Outlook
Inside week. ...
Lawrence's Comment
Recap
Y+1 support sent this higher until 100% absolute range expansion is tagged. Consolidated since. Closed the week near Y+1 and below midpoint.
Outlook
Slow rip to higher level suggests ...
S&P 500 Aug 25 to Aug 29 Outlook
Lawrence’s Comment
No selloff materialized as the gap and go play took over. Unlike Dow still trading below its all time high, ES has been pushing a new one this week hence the resistance it was facing below Y+3. Closed the week above Y+2 and midpoint.
Outlook
Another ATH play. If ES fails to close above the original high printed last month, we have a FBO in place for a serious pullback.
Normal expectation is that ES will trade in 50% range around the previous week close.
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