S&P 500 Oct 01 to Oct 05 Outlook

By News Robot

Lawrence’s Comment

Recap
Breakout play worked out. Clearing Y-1 gave us a straight melt down to Y-3 target. Then a technical bounce took ES higher back to Y-1. Closed the week below Y-2 and midpoint.

Outlook
Daily uptrend is broken. As long as 1450 down to B-0 acts as resistance, more down side is expected.

The overall structure points to sudden huge drops over the more normal selloffs where we see bulls giving up. Next level down is Y-5 / B-2.

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