S&P 500 Nov 14 to Nov 18 Outlook

Recap
ES is not as bullish as Dow but not as weak as NQ either. As mentioned last week, once ES getting close to one side of the gaps, it would attempt to fill those gaps quickly. That was exactly what happened last week. The funny thing is that both the upper upside gap and the lower downside gap were not filled. ES closed the week above midpoint.

Outlook
Trapped within the gaps. ES will again be bounded between these gaps and will continue doing so until it can clear one side of the gaps completely.

Looking for early weaknesses in the coming week for a bottom that will lead to a rally that can last upto 2 weeks.