Recap S&P pullback was expected and pretty much landed and ended at the Y-0 support precisely. Since then S&P drifted back up to new high again. Closed the week above Y+1 and at week high.
Outlook The short play in the beginning of the week was easy but the bounce was more difficult to deal with. It is as if someone is in a rush to keep buying everything.
Chart pattern suggests a short term top in the making below B+2. Once the selloff starts, it is important to stay below B+1 to keep the short side in control.
Lawrence's Comment
Recap
Once Y-1 was breached, down side range expansion started. Yet the selloff was not able to land at Y-2 target. Closed the week below Y-1.
Outlook
News shock after news ...
Lawrence's Comment
Recap
Wait and see mode as mentioned last week. Previous week close acted as support sending ninja back up to Y-0 and then back up to the crime scene right ...
Lawrence's Comment
Recap
Stayed weak and sold off down to Y-2 my downside target. Closed the week near week low and above Y-2.
Outlook
Slow structured selling do not last but it is not ...
S&P 500 Nov 25 to Nov 29 Outlook
Lawrence’s Comment
S&P pullback was expected and pretty much landed and ended at the Y-0 support precisely. Since then S&P drifted back up to new high again. Closed the week above Y+1 and at week high.
Outlook
The short play in the beginning of the week was easy but the bounce was more difficult to deal with. It is as if someone is in a rush to keep buying everything.
Chart pattern suggests a short term top in the making below B+2. Once the selloff starts, it is important to stay below B+1 to keep the short side in control.
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