S&P 500 May 12 to May 16 Outlook

Recap
Strong gap down at the start of the week gave fuel to an all out rally back up first. Since then ES ran out of fuel and sold off back down. Fed chair testimony sent ES into wild rides going up to test Y+1 first and then collapsed back down to Y-0. Closed the week above Y-0 and midpoint.

Outlook
Inside week. Closed near unchange. Another form of indecision. ES is back to the same congestion area since end of February when the Ukraine crisis started. Is it suggesting to us that as long as the crisis continue ES will refuse to move out of this range?

Until ES can move out of the congestion zone, we are stuck with range bounded plays.