S&P 500 Apr 11 to Apr 15 Outlook
By News Robot
Lawrence’s Comment
Recap
As expected consolidation within Y-0 to Y+1. Ended the week by expanding to, what else, 50% aboslute expansion. Someone playing the game from a script.
As expected consolidation within Y-0 to Y+1. Ended the week by expanding to, what else, 50% aboslute expansion. Someone playing the game from a script.
Outlook
Bounced off Y-0 means a retest of B-0 and B+1 is in the card. Only if B-0 acts as resistance would B-2 come into play. Sorry bears, the bulls have not given up their game yet.
Comments
1316 would be a test of the bottom of the trading range, which is what we are in. A gap down to fill that gap early Monday would be a potentially bullish setup.
Most reversals fail, and most trading ranges are resolved in the direction of the trend that preceded it.
Yes, looking for a long from S1 on monday if it forms a good bottom.
But we do not have a gap down so far.
We are close to 16. Odds however are building up in favor of a bounce to 23 to 25 area.
Looking for 1 more push either AH or tomorrow morning to get the necessary oversold condition first.