Recap Insanity continues as ES opened the week with a significant upside gap and then sold off straight down for 1 and 1/2 days with over 40 points range. Then ES went straight up and tagged the week high. Went sideway since. Closed the week above Y-0 and midpoint.
Outlook Potential weekly level pullback completed. As long as B-0 down to Y-1 is actng as support, looking for ES to move higher to B+2.
S&P 500 Mar 04 to Mar 08 Outlook
Lawrence’s Comment
Insanity continues as ES opened the week with a significant upside gap and then sold off straight down for 1 and 1/2 days with over 40 points range. Then ES went straight up and tagged the week high. Went sideway since. Closed the week above Y-0 and midpoint.
Outlook
Potential weekly level pullback completed. As long as B-0 down to Y-1 is actng as support, looking for ES to move higher to B+2.
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