Recap The bullish reversal scenario happened. Cleared Y+1 quickly but failed to close above. Closed the week above Y-0 and midpoint.
Outlook In order to continue matching higher, ES must hold Y-0 / B-0 support. A consolidation week where ES stuck inbetween Y+1 and Y-0 will be likely and it is one of the bullish scenarios going forward.
Lawrence's Comment
Recap
Dow completely dominated by bottom pickers in the beginning of the week. Hence failed to clear the previous week close from below. As new low printed mid week, the ...
S&P 500 Feb 09 to Feb 13 Outlook
Lawrence’s Comment
The bullish reversal scenario happened. Cleared Y+1 quickly but failed to close above. Closed the week above Y-0 and midpoint.
Outlook
In order to continue matching higher, ES must hold Y-0 / B-0 support. A consolidation week where ES stuck inbetween Y+1 and Y-0 will be likely and it is one of the bullish scenarios going forward.
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