S&P 500 Dec 16 to Dec 20 Outlook

By News Robot

Lawrence’s Comment

Recap
I thought the backfill back down to Y-1 was going to be choppy. Instead, we got this clean directional slide all the way down. Cleared Y-1 easily and then took ES down to almost Y-2 at 150% week expansion before support was found. Closed the week below Y-1 and near week low.

Outlook
Outside down week with close below Y-1 is bearish. Very directional week with range expansion, however, points to consolidation move the very next week. So more downside is expected but it could be just a tad lower.

Once a bottom is found, ES can drift back up with low volume to B-0 easily.

Share

  • You must be logged in to comment. Log in