S&P 500 Jul 09 to Jul 13 Outlook

By News Robot

Lawrence’s Comment

Recap
Pushed higher early in the week but capped by holiday trading and news shock. Consolidation around Y+1 with 50% previous week range. Closed the week below Y+1 and midpoint.

Outlook
Multiple gaps above and below defined a 50 point range from 1320 upto 1370. As long as ES not trading below B-1, B+1 should be retested based on longer term price pattern.

Failure to break out above B+1, however, points to the potential of a long term top.

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Comments
  • vertigo3 July 12, 2012 at 7:47 am

    LC,
    would it be possible to have these charts update day by day at the end of the day?
    I am talking about just keeping the lines extablished by the previous week, but having each day of the new week plotted as they unfold.

  • Lawrence Chan July 14, 2012 at 5:02 pm

    Am still waiting for the programmer to update the auto upload bot.

    It has some issues that has to be addressed before I can add more auto uploads.

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