Recap ES was capped in the beginning of the week for 3 days even when Euro zone b.s. its way out. But Fed announcement changed everything. A hard squeeze on the shorts sending ES up to 100% absolute range expansion target before it stalled. Closed the week at Y+2.
Outlook Option expiration week with 2 surprises happened last week, is set to go lower by Friday.
Monday and Tusday may just consolidate around B+1.
Lawrence's Comment
Recap
Pullback to B-0 as expected. Basing action as well. Closed the week at Y+1 / midpoint.
Outlook
Not clear at all. The basing action can be viewed as a ...
S&P 500 Sep 17 to Sep 21 Outlook
Lawrence’s Comment
ES was capped in the beginning of the week for 3 days even when Euro zone b.s. its way out. But Fed announcement changed everything. A hard squeeze on the shorts sending ES up to 100% absolute range expansion target before it stalled. Closed the week at Y+2.
Outlook
Option expiration week with 2 surprises happened last week, is set to go lower by Friday.
Monday and Tusday may just consolidate around B+1.
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