S&P 500 May 09 to May 13 Outlook

By News Robot

Lawrence’s Comment

A chance for the bears showed up in the beginning of the week when ES produced a w. upthrust Monday. The points to a selloff to at least Y-0 and we got that quickly before mid week. Then Y-1 was also tagged.
A bit of surprise that we got the huge gap up in 2nd half of the week that eventually selloff back down to close the week below Y-0.

Y-0 to B-0 must act as resistance for any further downside move to happen.
If the week beginning with consolidation at or below the resistance zone, then a retest of B-1 is very likely.


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