S&P 500 Apr 30 to May 04 Outlook

By News Robot

Lawrence’s Comment

Recap
Took off from long term support area and tagged my target of B+2. Closed the week at the week high. Perfect STOPD play.

Outlook
Short term (daily and lower timeframes) players are trapped on the short side and cleaned out during last week’s squeeze run.

Such runs do not last. A quick pop above B+1 resulting a snapback below B+1 will result in a w. upthrust short setup that will force ES to slide back down (slowly) to Y+1 zone.

If more bulls join the game from here, ES will be forced to consolidate around B+1 with 50% range of past week.

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