Trading Edges That Last
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S&P 500 Jul 18 to Jul 22 Outlook
Lawrence’s Comment
S&P acted the weakest as noted last week. It dropped 100% absolute range expansion to the downside and tagged Y-3.
Outlook
Although S&P was weak, it is still holding above the midpoint of the rally from 2 weeks ago. That is a bullish sign.
If S&P can trade and close above B-0 this week, we get confirmation of the daily timeframe uptrend to resume.
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