Recap Flushed lower first and then 2000 round number acted as platform for a rally into FOMC announcement as expected. ES sold off since then and dropped back down to week low for option expiration. Closed the week near Y-1 and below midpoint.
Outlook Y-0 / B-0 very strong resistance. Holiday trading means a flush to new low is likely and can go further than what most people are expecting.
S&P 500 Dec 21 to Dec 25 Outlook
Lawrence’s Comment
Flushed lower first and then 2000 round number acted as platform for a rally into FOMC announcement as expected. ES sold off since then and dropped back down to week low for option expiration. Closed the week near Y-1 and below midpoint.
Outlook
Y-0 / B-0 very strong resistance. Holiday trading means a flush to new low is likely and can go further than what most people are expecting.
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