Trading Edges That Last
- You May Also LikeESNQAH High2881.257467.50AH Mid2880.007461.88AH Low2878.757456.25READ MOREFor more information about this report please refer to the Market Bias Informant pageREAD MORE3DP Odds Table (ES) 2012-07-27Intraday Cycle Projection (ES) 2014-05-013DP Odds Table (SPY) 2016-01-25US Market Pre-Open 2018-9-113DP Odds Table (ES) 2021-12-29Intraday Cycle Projection (SPY) 2022-02-28Intraday Cycle Projection (SPY) 2015-10-12AUDUSD Apr 11 to Apr 15 OutlookHot n Cold (ES) 2023-4-28Precog Vision – US Indices 2021-12-31
As Featured In
S&P 500 Jul 15 to Jul 19 Outlook
Lawrence’s Comment
No pullback and no gap fill right off the start of the week. Price simply jump through every resistance levles above by gaps. Closed the week above Y+4 and near week high.
Outlook
We have not seen significant distribution yet, thus ES is not ready for big time selloff. At best a 20 points pullback is all bears can hope for right now.
It is possible July will spend the rest of the month (and going into early August) consolidating around B+2 down to B-1. The upside is limited but it will not be easy to daytrade in this environment on the short side.
Once a significant selloff started, there is really no support below for ES to hold once 1600 level is breached. How and when to engage in the short side will be difficult as it is likely to be triggered by some external events.
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