S&P 500 Mar 19 to Mar 23 Outlook

By News Robot

Lawrence’s Comment

Recap
No test of Y-0 from above at all, just gap and blow thru the Y+1 resistance. Forced a breakout to 100% expansion target of Y+3. Closed the week near week high and Y+3.

Outlook
Consolidation after news shock run is normal.

Bullish scenario consolidate around B+1 in a tight 50% week range.

Bearish scenario drops back down to B-0.

Share

Comments
  • geosing March 18, 2012 at 9:10 pm

    Struggling with interpretation. Consolidation around B+1 in a tight 50% week range – does this mean a trading range between B+1 and B+2, considering the outlook on NQ to a higher monthly target or does this mean 50% of the range around B+1 i.e. 25% above and 25% below?

  • Lawrence Chan March 18, 2012 at 9:40 pm

    It happens often if the particular mkt is extremely bullish – 25% above and 25% below.

  • Lawrence Chan March 18, 2012 at 9:41 pm

    See the link on Apple conference call on Monday in the real-time thread.
    That should be the story of the week.

  • You must be logged in to comment. Log in