Recap FBO on weekly confirmed. Continuation sell off waited until the very last moment to tag Y-2 target. Closed the week below Y-1 and midpoint.
Outlook Y-1 / B-0 strong resistance until proven otherwise. More downside is expected but do not assume the drop will be clean as daily level supports are now lining up in layers below B-1.
Lawrence's Comment
Recap
Strong reaction after closing year 2013 at the high. Sold off quickly after New Year until 100% absolute range expansion was reached. Stuck in that zone since. Closed the ...
S&P 500 May 02 to May 06 Outlook
Lawrence’s Comment
FBO on weekly confirmed. Continuation sell off waited until the very last moment to tag Y-2 target. Closed the week below Y-1 and midpoint.
Outlook
Y-1 / B-0 strong resistance until proven otherwise. More downside is expected but do not assume the drop will be clean as daily level supports are now lining up in layers below B-1.
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