Trading Edges That Last
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Lawrence's Comment Recap Stayed strong since beginning of the week and zoomed to almost tagging my target of Y+2. Closed the week near Y+1 and midpoint. Outlook Last week was a variation of consolidation ...READ MORELawrence's Comment Recap Breakout to the downside happened right off the start. Easy play for a slide to below Y-2. Cable never quite tagged Y-3 as it bottomed out above it. Closed ...READ MOREOverview Emini overnight range 2022.75 up to 2045.25 (at 9:00 am) Overnight Midpoint 2034.00 Previous Week Close 2027.50 Emini S&P is now trading at the top part of its range with ...READ MORE
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S&P 500 Dec 07 to Dec 11 Outlook
Lawrence’s Comment
After completing the 100 points dash to above 2100 (the actual bottom is not visible on the chart because it happened during overnight actions), unloading started and FBO against Y+1 led to a drop back down to Y-1. Y-1 failed to stop the sell off and gave way to Y-3. NFP saved the week with a equally if not more powerful rally. Closed the week above Y-0 and midpoint.
Outlook
In a fashion similar to what happened back in mid November, we got this 50 points dash from a technically significant level. Y-1 / B-0 is now very strong support until proven otherwise. More upside likely going into year end.
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