Recap Did not even test Y+1 and dropped back down to Y-1 as expected. Wild 2-way swings as mentioned last week. ES could not find support since Y-1 was broken. Closed the week below Y-2 and midpoint.
Outlook More downside is expected but not necessary directional drop. Potential hard squeeze back up to Y-1 / B-0 that can be followed by immediate sell off back down to B-1 and below. Not easy time for swing traders but definitely great day trading opportunities ahead.
Overview
Emini overnight range 1876.50 up to 1903.25
Overnight Midpoint 1890.00
Previous Day Mid 1887.25
Emini S&P is now trading at the top part of its range with a gap up. ...
As Tick16 Long Term stuck at neutral and slight bearish zone for 2 days already, any short term oversbought will send ES back down quickly.
That matches the current politico drama ...
S&P 500 Sep 15 to Sep 19 Outlook
Lawrence’s Comment
Did not even test Y+1 and dropped back down to Y-1 as expected. Wild 2-way swings as mentioned last week. ES could not find support since Y-1 was broken. Closed the week below Y-2 and midpoint.
Outlook
More downside is expected but not necessary directional drop. Potential hard squeeze back up to Y-1 / B-0 that can be followed by immediate sell off back down to B-1 and below. Not easy time for swing traders but definitely great day trading opportunities ahead.
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