Recap Consolidation actions around Y+1 as expected. NFP did not produce a directional move outside of the consolidation range hence no range expansion play. Closed the week near Y+1 and above midpoint.
Outlook Ledge actions near Y+1 is bullish. A push towards previous year high potential is there but that may also be the last push higher staging a very sharp drop back down to deal with the open gaps below around Y-0 then Y-1.
Lawrence's Comment
Recap
Just like the forex majors, Dow jumped higher right from the start and stayed there til Fed announcement. The odd thing though, is that the jump did not result ...
S&P 500 Jun 06 to Jun 10 Outlook
Lawrence’s Comment
Consolidation actions around Y+1 as expected. NFP did not produce a directional move outside of the consolidation range hence no range expansion play. Closed the week near Y+1 and above midpoint.
Outlook
Ledge actions near Y+1 is bullish. A push towards previous year high potential is there but that may also be the last push higher staging a very sharp drop back down to deal with the open gaps below around Y-0 then Y-1.
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