Trading Edges That Last
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Lawrence's Comment Recap Gap down to Y-1 giving us the perfect setup to produce the strong daily bottom mentioned last week. Clean reversal with breakout of Y+1 gave us Y+3 easily. Closed ...READ MOREFor more information about this report please refer to the Market Bias Informant pageREAD MOREESNQAH High2428.005804.25AH Mid2426.385800.63AH Low2424.755797.00READ MOREFor more information about this report please refer to the Market Bias Informant pageREAD MORE
As Featured In
S&P 500 Jun 15 to Jun 19 Outlook
Lawrence’s Comment
ES dropped lower initially but turned into 1-2-3 buy on 30-minute against Y-1 which gave us a go for Y-0. Y-0 was cleared and turned into support. This sent ES high until Friday the development in Europe sent the stock markets lower. Closed the week near Y-1 and below midpoint.
Outlook
Y-1 support will give us a retest of Y-0 / open gap zone. B-0 resistance can send ES down to B-1. It will be a difficult week to trade. How ES develops next week will be critical as the weekly up trend is now threatened.
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