Recap ES flushed down to the downside target area and bounced quickly back up to above Y-1. That staged the rally back up to challenge the open gap above. Closed the week at week high and above Y-1.
Outlook Potential whiplash break down in play. As long as ES failed to go above Y-0 / B+2 early in the week, continuation sell off will take ES back down to B-1 and likely much lower.
S&P 500 Aug 26 to Aug 30 Outlook
Lawrence’s Comment
ES flushed down to the downside target area and bounced quickly back up to above Y-1. That staged the rally back up to challenge the open gap above. Closed the week at week high and above Y-1.
Outlook
Potential whiplash break down in play. As long as ES failed to go above Y-0 / B+2 early in the week, continuation sell off will take ES back down to B-1 and likely much lower.
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