S&P 500 Mar 18 to Mar 22 Outlook

Recap
ES continues to march higher with no significant pullback. Yet, it did not quite make it to the IHS target of 1570 mentioned last week. Option expiration together with March break also put a cap on the volume hence tight range was reasonable. Closed the week above Y+1 and midpoint.

Outlook
As long as B-0 / Y+1 holds, ES can zoom higher still to the IHS target of B+2 to B+3 area.

Personally, due to the overbought condition in various breadth models, I will pass the long setups and look for short opportunities only.