S&P 500 Aug 12 to Aug 16 Outlook

By News Robot

Lawrence’s Comment

Sold off early in the week with Dow leading to the downside. This time ES was influenced by Dow more than NQ. Back down to support ES bounced off and retested the resistance mentioned last week and failed to clear the resistance. Closed the week below midpoint and Y-0.

ES is in breakout mode. Clearing B-0 will give us B+1 easily which depends heavily on NQ how strong it can stage a rally.

Normal price action points to holding below B-0 for a break of B-1 to tag B-2.


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