Recap Bearish expectation worked out well. Y-3 downside target tagged easily. Open gap filled below. Rumors spreaded right after to force the market higher. Open gap above got taken care of too. ES stalled from the resistance since. Closed the week below Y-2 and midpoint.
Outlook A longer term down trend is in the making. As long as ES cannot clear B-0 it can be the start of something more bearish. NFP week can lead to extreme moves by Thursday and Friday.
Lawrence's Comment
Recap
Near perfect 2 legs pullback to Y-0 visible on 30-min sparked the rally to clear Y+1. Y+1 served as support since and led toparabolic run to target above 17000 ...
S&P 500 Jun 01 to Jun 05 Outlook
Lawrence’s Comment
Bearish expectation worked out well. Y-3 downside target tagged easily. Open gap filled below. Rumors spreaded right after to force the market higher. Open gap above got taken care of too. ES stalled from the resistance since. Closed the week below Y-2 and midpoint.
Outlook
A longer term down trend is in the making. As long as ES cannot clear B-0 it can be the start of something more bearish. NFP week can lead to extreme moves by Thursday and Friday.
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