S&P 500 Sep 23 to Sep 27 Outlook
By News Robot
Lawrence’s Comment
Recap
Y+1 did not act as resistance at all. ES simply open above it and stayed above til Fed announcement. ES zoomed to Y+3 and stalled. Closed the week below midpoint and Y+2.
Y+1 did not act as resistance at all. ES simply open above it and stayed above til Fed announcement. ES zoomed to Y+3 and stalled. Closed the week below midpoint and Y+2.
Outlook
Not bullish because new high for the year was rejected quickly. Not bearish either because ES has not quite breached the former year high yet.
Looking for consolidation around 1700 this week.
Comments
In this chart it looks like ES is not back-adjusted after the rollover? I believe the week of Sept 16th should have a gap from the prior week.
It is just the continuous contract. No adjustment.