S&P 500 Aug 08 to Aug 12 Outlook

By News Robot

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.

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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