Trading Edges That Last
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Lawrence's Comment Recap Euro moved back down to target mentioned last week. Bounced from there but failed to clear 1.13 / Y-0. Closed the week near Y-1 and below midpoint. Outlook Y-1 ...READ MOREPrecog Vision – US Indices 2022-8-24Hot n Cold (SPY) 2012-10-43DP Odds Table (ES) 2016-11-15Intraday Cycle Projection (ES) 2021-09-07Intraday Cycle Projection (SPY) 2020-04-14Real-time Commentaries 2018-1-26Precog Vision – US Indices 2011-11-9EURUSD Sep 28 to Oct 02 OutlookES Chart 2017-12-28GBPUSD Jun 08 to Jun 12 Outlook
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S&P 500 Sep 29 to Oct 03 Outlook
Lawrence’s Comment
As expected, the FBO mentioned last week gave us a drop back down to Y-0 and then Y-1. That turned Y-0 into strong resistance. Retest of Y-0 failed. ES simply collapsed straight down until 100% absolute range was reached. Closed the week below Y-0 and midpoint.
Outlook
Both upside and downside targets are “unsafe”. The way the last 2 swing bottoms on 30-minutes show that there is lack of tractions to hold the support zones. That means ES can easily violate B-1 and drop to B-2 and below.
Yet, the 2 open gaps above are asking to be filled. Should ES find an excuse to go above B-0, it will zone higher quickly to get them. This makes the environment best engaged thru day trading, not swing trading.
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