Recap My short term low in place expectation proven to be correct. ES rushed back up above Y-0 since the beginning of the week and consolidated around it. FOMC announcement took ES straight up above Y+1 and eventually Y+2. Closed the week above Y+1 and midpoint.
Outlook Wide range week with gaps everywhere again. Consolidation may take ES back down to B-0 first. If this coming week is proven a weak consolidation, we cannot rule out ES dropping all the way back down to B-1 eventually.
Lawrence's Comment
Recap
Consolidation as expected in tight range. Cable simply sit at equal distance from Y-0 waiting for something to move it. Closed the week near Y-0 and midpoint.
Outlook
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S&P 500 Mar 23 to Mar 27 Outlook
Lawrence’s Comment
My short term low in place expectation proven to be correct. ES rushed back up above Y-0 since the beginning of the week and consolidated around it. FOMC announcement took ES straight up above Y+1 and eventually Y+2. Closed the week above Y+1 and midpoint.
Outlook
Wide range week with gaps everywhere again. Consolidation may take ES back down to B-0 first. If this coming week is proven a weak consolidation, we cannot rule out ES dropping all the way back down to B-1 eventually.
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