Recap Consolidation week at 50% range. 1780 magic #. Due to overnight news shock all week, we observed surprise breakout plays almost everyday last week. Yet, S&P was still bounded in tight range. Closed the week below Y-1 and midpoint.
Outlook Daily ledge in place. It is not necessary to go lower at once should more weekly players jumping on board to BTFD.
On intraday basis, sudden gap above B+1 will lead to a run to B+2. Otherwise, B+1 should cap this down with new low likely.
Lawrence's Comment
Recap
Resistance above Y+1 failed to get NQ filling the open gap below. That in turn produced an upside breakout giving us 100% range expansion off the tight range. Closed ...
Lawrence's Comment
Recap
Went higher and tagged 1.07 round number and stalled. Consolidation since. Closed the week near Y+1 and below midpoint.
Outlook
Similar to Aussie, affected by gold's multiple attempts to find a ...
S&P 500 Feb 03 to Feb 07 Outlook
Lawrence’s Comment
Consolidation week at 50% range. 1780 magic #. Due to overnight news shock all week, we observed surprise breakout plays almost everyday last week. Yet, S&P was still bounded in tight range. Closed the week below Y-1 and midpoint.
Outlook
Daily ledge in place. It is not necessary to go lower at once should more weekly players jumping on board to BTFD.
On intraday basis, sudden gap above B+1 will lead to a run to B+2. Otherwise, B+1 should cap this down with new low likely.
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