Trading Edges That Last
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Lawrence's Comment Recap Quick drop to Y-2 and found support. Bounced back to Y-0 and found resistance. Closed the week below Y-0 and above midpoint. Outlook Consolidation likely to absorb the wild swings in ...READ MORE3DP Odds Table (SPY) 2012-07-06Real-time Commentaries 2018-5-7Real-time Commentaries 2016-11-29Intraday Cycle Projection (SPY) 2022-04-063DP Odds Table (ES) 2014-04-21USDJPY Jan 20 to Jan 24 OutlookReal-time Commentaries 2011-7-14Intraday Cycle Projection (SPY) 2012-12-243DP Odds Table (ES) 2015-10-09Intraday Cycle Projection (ES) 2019-09-04
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S&P 500 Apr 27 to May 01 Outlook
Lawrence’s Comment
ES opened the week by gapping up above Y-0 and filled the open gap above quickly. Retest of Y-0 confirm support and sent ES to test and clear Y+1 in 1 go. ES found resistance at longer term trend lines. Closed the week above Y+1 and above midpoint.
Outlook
ES is developing a rising wedge visible on 30-min and hourly. This means ES can drift up to as high as Y+2 / B+2 area but it is not sustainable. When the steep support trend line from past 2 weeks is broken, ES will easily fall back down to B-0.
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