Trading Edges That Last
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Lawrence's Comment Recap Consolidated around Y+1. It is expected since NQ just finished another squeeze up. Closed the week below Y+1 and near midpoint. Outlook As long as B-1 downto Y-0 acting ...READ MOREESNQAH High3360.7511438.00AH Mid3347.7511394.38AH Low3334.7511350.75READ MOREFor more information about this report please refer to the Market Bias Informant pageREAD MORELawrence's Comment Recap Aussie tried to push higher can failed due to the obvious weaknesses mentioned last week. Ended up another consolidation week with tight range. Closed the week above Y-0 and ...READ MOREESNQAH High1563.752808.00AH Mid1559.002797.13AH Low1554.252786.25READ MORE
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S&P 500 Aug 08 to Aug 12 Outlook
Lawrence’s Comment
FBO against Y+1 gave us Y-0 and then Y-1. Tight range breakdown led to a slide down to Y-2. Y-2 support sent ES back up to Y-0. NFP Friday cleared Y+1. Closed the week above Y+1 and near week high.
Outlook
Slingshot move points to more upside. Sentiment is also too bearish for us to get significant selloff. B+1 turning into resistance can lead to a sharp pullback down to challenge the open gap below.
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