S&P 500 May 13 to May 17 Outlook

Recap
Similar to Dow, ES ripped thru resistance zone and went straight up for days. Classic blowoff top type action. Almost tagged Y+2 and stalled. Closed the week near week high and above Y+1.

Outlook
Limited upside to below B+2 with possible whiplash action to drop back down to B-2.

It is clear that ES is in a topping process here. Structural boundaries will likely be breached at various timeframes without providing us actual direction of the market. Staying on the sideline is a good choice if this kind of volatility is not your cup of tea.