Recap The bullish reversal scenario happened. Cleared Y+1 quickly but failed to close above. Closed the week above Y-0 and midpoint.
Outlook In order to continue matching higher, ES must hold Y-0 / B-0 support. A consolidation week where ES stuck inbetween Y+1 and Y-0 will be likely and it is one of the bullish scenarios going forward.
S&P 500 Feb 09 to Feb 13 Outlook
Lawrence’s Comment
The bullish reversal scenario happened. Cleared Y+1 quickly but failed to close above. Closed the week above Y-0 and midpoint.
Outlook
In order to continue matching higher, ES must hold Y-0 / B-0 support. A consolidation week where ES stuck inbetween Y+1 and Y-0 will be likely and it is one of the bullish scenarios going forward.
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