S&P 500 Nov 25 to Nov 29 Outlook

By News Robot

Lawrence’s Comment

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.

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