Recap Just like Dow and NQ, ES tried hard to clear Y+1 and failed. Stalled back down to Y-0 and found support. 2nd try cleared Y+1 and got my upside target mentioned last week. Closed the week above Y+1 and near week high.
Outlook ES topping from B+1 / B+2 zone will give us bearish reversal back down to B-1 quickly and potential drop back down to B-2 and B-3.
Lawrence's Comment
Recap
Reversal expectation played out. Euro rejected Y-1 and zoomed above Y+1 right after FOMC announcement. Strong reaction above Y+1. Closed the week above Y-0 and midpoint.
Outlook
Although euro ...
S&P 500 Oct 19 to Oct 23 Outlook
Lawrence’s Comment
Just like Dow and NQ, ES tried hard to clear Y+1 and failed. Stalled back down to Y-0 and found support. 2nd try cleared Y+1 and got my upside target mentioned last week. Closed the week above Y+1 and near week high.
Outlook
ES topping from B+1 / B+2 zone will give us bearish reversal back down to B-1 quickly and potential drop back down to B-2 and B-3.
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