Trading Edges That Last
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Lawrence's Comment Recap Consolidation as expected. Developed the top 1/2 first then dropped down to near Y-1 for a test. Closed the week below Y-0 and midpoint. Outlook Y-1 / B-1 support ...READ MORELawrence's Comment Recap ES follow through with its breakout above its 3 pushes down pattern on 30-min. Cleared Y+1 and tagged Y+2 quickly. Since then going sideway the rest of the week. ...READ MOREESNQAH High1518.252770.25AH Mid1514.132763.13AH Low1510.002756.00READ MORE
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S&P 500 May 23 to May 27 Outlook
Lawrence’s Comment
News shock at the beginning of the week sent ES above Y-0. FBO against Y-0 turned Y-0 into resisstance and a drop back down to Y-1. Test of Y-0 from below and failed to clear that gave us more selling until 100% absolute range expansion was reached. Closed the week below Y-0 and near midpoint.
Outlook
Y-1/ B-0 support can kick start a squeeze higher towards B+1. Topping out below B+1 will set the stage for another leg lower below B-1.
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