S&P 500 Jan 16 to Jan 20 Outlook

By News Robot

Lawrence’s Comment

Recap
Upside target Y+2 tagged first, then downside target gap fill below was tagged later. Closed the week above Y+1.

Outlook
Stronger than Dow but weaker than NQ. ES has lost its upside momentum but no sign of establishing a downtrend yet.

Suspect that this type of two way market (i.e. swinging to both extremes) will continue until one side give in.

Not a good swing trading environment for now.

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Comments
  • geosing January 22, 2012 at 9:09 pm

    Gong Xi Fa Ca! Best wishes for the dragon to bestow all the benevolence during the coming year and beyond!

    PS: I once attempted to learn Mandarin. I lasted about 5 minutes of the opening lesson which was about the tonality of the language and the various ways of just saying “ma” each of which has totally different meaning! Figured it would be easier to learn to sing. 🙂

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