Recap Sold off to Y-2 as expected. The strong rally, however, all the way back up to Y-0, was quite amazing. Closed the week below Y-0 after failing to stay above that.
Outlook Down trend intact. Going back down to B-0 is likely.
Breaking below B-0 will open the door to B-1 and B-2.
A rare scenario is that Y-2 turning into support (which is also the double bottom neckline area), that can stage a rally finally breaking this down trend on daily timeframe.
Earning season is here again and its bias is in play.
The game plan for most of the days will be looking for reversal to take the market (S&P 500 only) ...
Lawrence's Comment
Recap
With the backdrop of government intervention, dollar yen is showing the strongest persistencies in its uptrend. After the shock sending the pair down to Y-0, it bounced off ...
S&P 500 Oct 10 to Oct 14 Outlook
Lawrence’s Comment
Sold off to Y-2 as expected. The strong rally, however, all the way back up to Y-0, was quite amazing. Closed the week below Y-0 after failing to stay above that.
Outlook
Down trend intact. Going back down to B-0 is likely.
Breaking below B-0 will open the door to B-1 and B-2.
A rare scenario is that Y-2 turning into support (which is also the double bottom neckline area), that can stage a rally finally breaking this down trend on daily timeframe.
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