Trading Edges That Last
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Lawrence's Comment Recap Cable reversed its down trend from exactly the level I mentioned last week and zoomed to Y+1. Very strong reaction to Y+1 bringing cable back down to Y-1. Closed ...READ MORELawrence's Comment Recap The intervention I've been talking about happened. It illustrates why we cannot trade the short side of this pair when it was drifting downward as we cannot tell ...READ MOREOverview Emini overnight range 2144.25 to 2159.50 (at 9:00 am) Overnight Midpoint 2152.00 Previous Week Mid 2150.25 Battleplan for the Day (premium member only content below)READ MORE
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S&P 500 May 26 to May 30 Outlook
Lawrence’s Comment
Got the retest I was looking for and dropped to support trend line like playing from a script. ES took off since and went straight up for Y+1. Closed the week above Y-0 and near week high.
Outlook
Taking too much time to rally into a resistance is bearish. Challenging a resistance from below with no volume is bullish.
Very tricky price level to trade. An FBO against Y+1 / B+1 points to at least a retest of B-0. Not necessary a major top either as ES has been in congestion below 1900 for quite some time.
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