Recap FBO against Y+1 gave us Y-0 and then Y-1. Tight range breakdown led to a slide down to Y-2. Y-2 support sent ES back up to Y-0. NFP Friday cleared Y+1. Closed the week above Y+1 and near week high.
Outlook Slingshot move points to more upside. Sentiment is also too bearish for us to get significant selloff. B+1 turning into resistance can lead to a sharp pullback down to challenge the open gap below.
Lawrence's Comment
Recap
Found support at the support zone mentioned last week. Rallied to Y+1 and closed the week there.
Outlook
Likely that the pair has found its daily level bottom. As long ...
Lawrence's Comment
Recap
As expected yen failed to escape out of the range established in the past few weeks. Tried to take out Y+2 and failed. Fell ack down to ...
S&P 500 Aug 08 to Aug 12 Outlook
Lawrence’s Comment
FBO against Y+1 gave us Y-0 and then Y-1. Tight range breakdown led to a slide down to Y-2. Y-2 support sent ES back up to Y-0. NFP Friday cleared Y+1. Closed the week above Y+1 and near week high.
Outlook
Slingshot move points to more upside. Sentiment is also too bearish for us to get significant selloff. B+1 turning into resistance can lead to a sharp pullback down to challenge the open gap below.
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