Recap What I said last week played out – “At best a 20 points pullback is all bears can hope for right now”. ES consolidated around Y+1 during this option expiration week. Closed the week near the week high and above Y+1.
Outlook Another week setting the stage for one more parabolic run. That is in complete contrast to NQ as NQ has broken its up trend already. I am not sure if ES will be forced lower or would the momentum of ES will force NQ to go sideway or even drift up. Difficult week ahead for daytrading.
Lawrence's Comment
Recap
Held close from the week before and run higher until 50% range reached. Consolidation / sideway actions all the way. Closed the week above Y+1 and below midpoint.
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S&P 500 Jul 22 to Jul 26 Outlook
Lawrence’s Comment
What I said last week played out – “At best a 20 points pullback is all bears can hope for right now”. ES consolidated around Y+1 during this option expiration week. Closed the week near the week high and above Y+1.
Outlook
Another week setting the stage for one more parabolic run. That is in complete contrast to NQ as NQ has broken its up trend already. I am not sure if ES will be forced lower or would the momentum of ES will force NQ to go sideway or even drift up. Difficult week ahead for daytrading.
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