Recap Got our consolidation-like range. Upside target of above mid-1830s printed. Closed the week above Y+1 and midpoint.
Outlook Seasonal bullish bias used up at this point. No strong directional play until after new year.
Chart pattern suggests a retest of Y-2 is necessary. The issue is timing. Since next week is year end, I suspect the wild rides will probably start after new year.
Both Tick16 ST and 3-Day Advance Issues are pushed down to slightly negative levels.
If they continue to slide a bit more both will enter oversold territory.
Since Tick16 LT is in ...
Lawrence's Comment
Recap
Unlike Dow or ES, NQ has a clean upside breakout setup with Y+1 acting as support early in the week. That points to a move to clear Y+2 and ...
S&P 500 Dec 30 to Jan 03 Outlook
Lawrence’s Comment
Got our consolidation-like range. Upside target of above mid-1830s printed. Closed the week above Y+1 and midpoint.
Outlook
Seasonal bullish bias used up at this point. No strong directional play until after new year.
Chart pattern suggests a retest of Y-2 is necessary. The issue is timing. Since next week is year end, I suspect the wild rides will probably start after new year.
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