Recap Rallied a bit stronger than expected in beginning of the week. Still sold off to target B-1 area. Closed the week below previous week close.
Outlook Weaknesses in internals is very obvious. Comparing to NQ, ES is the weak one. Breaking to the down side around 1320 or down to B-2 is the more likely scenario.
Lawrence's Comment
Recap
Instead of holding above Y-1, it failed to act as support right from the beginning of the week. That set the stage for a test of Y-1 mid-week ...
Overview
Emini overnight range 2059.75 up to 2067.75 (at 5:30 am)
Overnight Midpoint 2063.75
Previous Week Low 2079.50
Emini S&P is now trading at the top part of its range with ...
S&P 500 May 16 to May 20 Outlook
Rallied a bit stronger than expected in beginning of the week. Still sold off to target B-1 area. Closed the week below previous week close.
Outlook
Weaknesses in internals is very obvious. Comparing to NQ, ES is the weak one. Breaking to the down side around 1320 or down to B-2 is the more likely scenario.
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