Recap I was looking for a pullback to B-0 early in the week. That worked out as expected. Then a bounce back up to at least a retest of B+1. That worked out too. Closed the week about Y+1.
Outlook Not much more upside from here as monthly resistance zone is right here in this area.
Need to see if ES can breakthru the zone before looking into possible melt up scenario.
For now, waiting for signs of ES forming sell setup on daily.
S&P 500 Feb 27 to Mar 02 Outlook
Lawrence’s Comment
I was looking for a pullback to B-0 early in the week. That worked out as expected. Then a bounce back up to at least a retest of B+1. That worked out too. Closed the week about Y+1.
Outlook
Not much more upside from here as monthly resistance zone is right here in this area.
Need to see if ES can breakthru the zone before looking into possible melt up scenario.
For now, waiting for signs of ES forming sell setup on daily.
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