Trading Edges That Last
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Lawrence's Comment Recap Consolidation around previous week close. Y-0 acted as support. Closed the week above Y-0 and midpoint. Outlook Consolidation instead of pullback from blowoff action is bullish. This points to ...READ MOREFor more information about this report please refer to the Market Bias Informant pageREAD MOREESNQAH High1864.504156.50AH Mid1857.254139.63AH Low1850.004122.75READ MORELawrence's Comment Recap News shock sent cable back down to Y-1 and 100% range expansion. Stops were triggered and led to further downside to Y-2 before support is found. Closed the week ...READ MORE3DP Odds Table (SPY) 2020-05-06USDJPY Sep 29 to Oct 03 OutlookIntraday Cycle Projection (ES) 2023-03-033DP Odds Table (ES) 2013-04-01Precog Vision – US Indices 2012-11-14US Market Pre-Open 2016-1-213DP Odds Table (ES) 2012-04-053DP Odds Table (ES) 2017-02-03GBPUSD Sep 28 to Oct 02 OutlookES Chart 2001-09-04
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S&P 500 Aug 05 to Aug 09 Outlook
Lawrence’s Comment
Mentioned last week ES would be influenced by NQ and it happened. ES was weak and failed to hold Y-0 yet strength in NQ carried ES higher and forced an upside breakout in ES eventually. Short squeeze, however, did not carry ES much higher. Not even Y+2 was tagged. Closed the week at week high and above Y+1.
Outlook
Signs of distribution in the underlying components detected in real-time. Distribution phase takes time and they usually happens while the market is going higher, not lower.
Chart pattern suggests consolidation around Y+2 / B+1 area this week. Retest of Y+1 is possible if a strong reversal setup against B+1 happens later in the week.
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