S&P 500 Jun 20 to Jun 24 Outlook

By News Robot

Lawrence’s Comment

Recap
Tried to bounce off Y-1 with a w. spring. Tagged B-0 but failed to stay above that for long. Produced a 100% absolute range expansion and bounced back above Y-1 to close the week.

Outlook
The strong down trend is broken. S&P can go into either consolidation mode or a rally towards B+1 and B+2 is not out of the question as the oversold condition is quite strong.

Consolidation range is Y-1 upto B+1.

Trading below Y-1 and that turns into resistance, the downtrend will accelerate with target at B-3.

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