Trading Edges That Last
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Lawrence's Comment Recap Nothing happened to Euro, so cable stayed there in consolidation. Y+1 resistance sent cable back down to Y-0 and then it took off to new high. Equal distance from ...READ MORELawrence's Comment Recap Pullback as expected. Down to Y-0 zone as expected. And took off to retest Y+1, then breakout to almost Y+2. Closed the week near high of week. Outlook The ...READ MOREESNQAH High4632.0015946.25AH Mid4628.0015928.00AH Low4624.0015909.75READ MORE
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S&P 500 Feb 11 to Feb 15 Outlook
Lawrence’s Comment
S&P gapped down right from the start of the week as if it was going to break below Y-1. Yet it gapped up right after and tagged Y+1 the day after. It was like pinball bouncing around quickly. By Thursday, S&P flushed down to test the gap created on Tuesday and magically holding mid gap and started a powerful short squeeze. Closed the week above Y+1 and near week high.
Outlook
Outside week with outside close is bullish. Early next week ES will likely challenge Y+2 to B+2. That is also the lower long term resistance zone mentioned in my newsletter. Strong reaction there will push ES back down to B-0 easily.
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