Trading Edges That Last
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Lawrence's Comment Recap FBO confirmed and sold off to B-2 as expected. By end of week a stop run carried the pair down to Y-3. Closed the week below Y-2 ...READ MOREIntraday Cycle Projection (SPY) 2018-11-16USDCAD Nov 26 to Nov 30 Outlook3DP Odds Table (SPY) 2015-07-273DP Odds Table (SPY) 2013-11-20Intraday Cycle Projection (ES) 2013-12-273DP Odds Table (SPY) 2011-09-02ES Chart 2003-10-02Hot n Cold (SPY) 2012-3-12Real-time Commentaries 2013-8-22Real-time Commentaries 2015-10-12
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S&P 500 Nov 28 to Dec 02 Outlook
Lawrence’s Comment
The resistance zone was not even tested and ES simply gapped down and slide to Y-2 before its first paused. Failing again to fill the gap above to tag Y-1, another gap down breaking Y-2 put the target Y-3 in play. By end of the week, Y-3 tagged.
Outlook
The weakest Thanksgiving week I have seen. I have seen many Thanksgiving week price action and this one is so weak that I think the word puking was the best word in describing what happened.
Next support zone is B-2 down to B-3. B-3 is of special interest because there is an open gap not filled down there near 1100.
Just like last week, am looking for a tradable bottom but will not commit myself to swing long until after daily formation confirms a swing bottom is in place.
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