Recap ES followed Dow and pulled an op ex 2-way play on the players. Closed the week near Y-0 and midpoint. To learn more about op ex weeks, read my Survival Guide.
Outlook Inside week with midpoint near Y-0, breakout mode triggered. The problem is that a breakout play out of a 40 points range may not have enough fuel to go far. We need B+1 turning into support, or B-1 turning into resistance before we can get a strong directional play in coming weeks.
For now, we may have to deal with yet another consolidation week.
S&P 500 Mar 24 to Mar 28 Outlook
Lawrence’s Comment
ES followed Dow and pulled an op ex 2-way play on the players. Closed the week near Y-0 and midpoint. To learn more about op ex weeks, read my Survival Guide.
Outlook
Inside week with midpoint near Y-0, breakout mode triggered. The problem is that a breakout play out of a 40 points range may not have enough fuel to go far. We need B+1 turning into support, or B-1 turning into resistance before we can get a strong directional play in coming weeks.
For now, we may have to deal with yet another consolidation week.
Share