Recap Monday gapped below critical support which then turned into resistance. Trend sell all week until 200% aboslute range expansion was reached. Closed the week below Y-5 and at week low.
Outlook A quick drop below B-1 and snap back up above B-1 will give us a bounce back up to Y-5 / B-0. From there we will see if selling would resume.
Content Review Euro Still Have Months of Congestion to Go S&P Pullback / Consolidation Mode Gold Waiting for Something to Happen Big Picture Summary Review Euro getting stuck ...
S&P 500 Jan 11 to Jan 15 Outlook
Lawrence’s Comment
Monday gapped below critical support which then turned into resistance. Trend sell all week until 200% aboslute range expansion was reached. Closed the week below Y-5 and at week low.
Outlook
A quick drop below B-1 and snap back up above B-1 will give us a bounce back up to Y-5 / B-0. From there we will see if selling would resume.
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