Recap Pocket below Y-0 was taken care of first thing in the week, giving ES an excuse to go higher to fill the open gap above right after. 2 legs up to finally close the gap but then Deutsche Bank event dropped ES back down to retest the support. That did not stop ES from gaining back all the ground and print week high after. Closed the week above Y-0 and midpoint.
Outlook Inside week points to potential breakout mode with strong support at Y-0 / B-0 for B+2 run first. Sudden reversal from above B+1 breaking below Y-0/B-0 support will likely follow thru with B-1 and B-2 targets.
Recap of last week Flushed down as expected, tagged the previous month 2x downside target (good!) but not tagging the 50% weekly expansion target to the downside and reversed ...
Lawrence's Comment
Recap
Strongest among the 3 indices, NQ consolidated between Y-0 and Y-1. NQ also formed a rare down side triangle with potential up side breakout by the end of the ...
S&P 500 Oct 03 to Oct 07 Outlook
Lawrence’s Comment
Pocket below Y-0 was taken care of first thing in the week, giving ES an excuse to go higher to fill the open gap above right after. 2 legs up to finally close the gap but then Deutsche Bank event dropped ES back down to retest the support. That did not stop ES from gaining back all the ground and print week high after. Closed the week above Y-0 and midpoint.
Outlook
Inside week points to potential breakout mode with strong support at Y-0 / B-0 for B+2 run first. Sudden reversal from above B+1 breaking below Y-0/B-0 support will likely follow thru with B-1 and B-2 targets.
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