Trading Edges That Last
- You May Also Like
Lawrence's Comment Recap FBO against Y+1 in beginning of the week gave us the downside target of Y-1. Took out Y-1 and tagged Y-2 in 1 go. Bounced back above ...READ MOREFor more information about this report please refer to the Market Bias Informant pageREAD MORELawrence's Comment Recap Just like NQ, ES gave us a surprise run to challenge its year high early in the week. The interesting development, however, was that it developed a bearish ...READ MOREESNQAH High1989.004089.00AH Mid1979.634065.25AH Low1970.254041.50READ MORE3DP Odds Table (NDX) 2021-02-17AUDUSD Mar 26 to Mar 30 OutlookPrecog Vision – US Indices 2012-9-6Real-time Commentaries 2018-12-263DP Odds Table (NQ) 2017-10-09S&P 500 Apr 09 to Apr 13 OutlookGBPUSD Oct 17 to Oct 21 OutlookReal-time Commentaries 2020-8-13US Market Pre-Open 2015-1-16Real-time Commentaries 2011-4-25
As Featured In
Nasdaq 100 Aug 05 to Aug 09 Outlook
Lawrence’s Comment
How wrong was I on NQ. Instead of a clean FBO Monday, NQ rejected the setup by not breaking the Monday low and instead gap and breakout upside. Tagged Y+2. Held Y+1 as support and started the 200% absolute range expansion move. Closed the week at the week high and above Y+3.
Outlook
This rally has the signature of blowoff top in the making. We cannot predict exactly where the blowoff top will end but we can tell 2 downside targets are now created waiting to be retested when the blowoff phase is over. One is B-0 and the other is B-1.
This week consolidation around B+1 is expected although I suspect more wild moves are coming. Daily reversal setup is necessary before we can participate on the downside.
Share