Trading Edges That Last
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Lawrence's Comment Recap NQ chose to breakout above 4300 in 1 go. That's a low probability move hence giving us the 100% range expansion. Closed the week above Y+2 and at week ...READ MOREFor more information about this report please refer to the Market Bias Informant pageREAD MOREPrecog Vision – US Indices 2014-8-7Real-time Commentaries 2024-8-23DP Odds Table (ES) 2013-08-163DP Odds Table (ES) 2019-07-15ES Chart 2013-04-29ES Chart 2002-11-25Real-time Commentaries 2017-5-8Precog Vision – US Indices 2017-8-4Nasdaq 100 Feb 16 to Feb 20 OutlookPrecog Vision – US Indices 2020-5-5
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S&P 500 Aug 13 to Aug 17 Outlook
Lawrence’s Comment
Gap above Y+1 at the start of the week forced another systematic squeeze on shorts. Tight range all week. At the final hours on Friday, rallied to close the week near its high.
Outlook
S&P so close to year high is it reasonable to expect not many people would reduce their long positions or start new short positions in front of that. So that staged 2 scenarios to unfold next week. Either a slow drift up to year high, or, an explosive one to take it out.
Both cases do not point to more upside beyond current year high by 1% to 2%.
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