Recap Sold off as expected with Dow. Got my target of Y-3. Almost down to 2% pullback / Y-4 too. Consolidated around Y-3 until NFP changed the game. Gap and go destroyed the shorts not happy with just 2% drop. Closed the week near Y-0 and above midpoint.
Outlook Multiple large gaps that are not clearing important support/resistance zone are likely to be retested and filled. This points to a week of back fill the complete range of B+1 down to Y-3.
Such move is not normal but so is the current trading environment.
Backfill actions are not directional and can be very choppy.
S&P 500 Dec 09 to Dec 13 Outlook
Lawrence’s Comment
Sold off as expected with Dow. Got my target of Y-3. Almost down to 2% pullback / Y-4 too. Consolidated around Y-3 until NFP changed the game. Gap and go destroyed the shorts not happy with just 2% drop. Closed the week near Y-0 and above midpoint.
Outlook
Multiple large gaps that are not clearing important support/resistance zone are likely to be retested and filled. This points to a week of back fill the complete range of B+1 down to Y-3.
Such move is not normal but so is the current trading environment.
Backfill actions are not directional and can be very choppy.
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