Trading Edges That Last
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S&P 500 Mar 25 to Mar 29 Outlook
Lawrence’s Comment
Short bias from last week played out well until Y-2 was tagged and that the huge gap from beginning of March was rejected. ES zoomed back up from below Y-2 up to almost Y+1. Unlike NQ or Dow, ES did not drop as much on the subsequent sell off. Closed the week aobve midpoint and Y-0.
Outlook
ES price swings in a complete mess. That is mainly due to the manipulation by the authorities to maintain a stable stock market. It is not a problem as we all learned to play along.
ES will be a very difficult market to swing trade this week as the price formation is not normal thus it does not produce valid bias like normal market actions.
Day trading opportunities will be ample as intraday volatility has picked up.
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