S&P 500 Dec 31 to Jan 04 Outlook

By News Robot

Lawrence’s Comment

Recap
What normal up drift? That bias was thrown out of the window right on Monday. Wednesday gapped higher and that defined the high of the week. Tagged Y-1 and bounced off a little. Just to drop again to get to Y-2 in 1 go. Another stronger bounce due to rumors spreaded by the politicians. That did not help as selloff resumed right after. Closed the week at the low near Y-2.

Outlook
After 4 pm close, ES actually flushed down to low 1380s. Hence the chart is not as bearish as it should look like. 1370 is measured move target which should provide some support. Tricky situation as the markets can all move swiftly once a deal is done. News driven market is not known to be friendly environment for daytraders.

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