Recap ES bull flag on 30-min and hourly landed at Y-0 support. Strong squeeze on the shorts led to breakout of Y+1. Closed the week above Y+1 and near week high.
Outlook 3rd leg up points to B+2 / Y+2 zone. That’s also key daily / weekly resistance for multiple reasons. Potential completion of the bounce from year low.
Lawrence's Comment
Recap
Consolidation at 50% week range. Initial FBO against Y+1 led to a pullback to Y-0. Y-0 held and gave us a retest of Y+1. Closed the week above Y-0 ...
S&P 500 Mar 14 to Mar 18 Outlook
Lawrence’s Comment
ES bull flag on 30-min and hourly landed at Y-0 support. Strong squeeze on the shorts led to breakout of Y+1. Closed the week above Y+1 and near week high.
Outlook
3rd leg up points to B+2 / Y+2 zone. That’s also key daily / weekly resistance for multiple reasons. Potential completion of the bounce from year low.
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