Trading Edges That Last
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Lawrence's Comment Recap ES gap lower to start the week from long term support zone where the major open gaps are. ES found support there and launched a rally straight back up ...READ MOREFor more information about this report please refer to the Market Bias Informant pageREAD MORE
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S&P 500 Aug 08 to Aug 12 Outlook
Lawrence’s Comment
FBO against Y+1 gave us Y-0 and then Y-1. Tight range breakdown led to a slide down to Y-2. Y-2 support sent ES back up to Y-0. NFP Friday cleared Y+1. Closed the week above Y+1 and near week high.
Outlook
Slingshot move points to more upside. Sentiment is also too bearish for us to get significant selloff. B+1 turning into resistance can lead to a sharp pullback down to challenge the open gap below.
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