Recap The selloff scenario played out where the target of Y-3 was tagged. The strength of the rally in the 2nd half of the week is a bit surprising but not unexpected because that was a quarterly support level.
Outlook A retest of March close/high is expected. That can happen in 2 very different situations. First, if B-0 acting as support early next week, we get a quick zoom to the target. The other scenario, however, is a deeper pullback to Y-2 at a slow pace which means the upside target may not be tagged within the week.
Overview
Emini overnight range 2132.75 to 2153.50 (at 9:00 am)
Overnight Midpoint 2143.00
Previous Week Close 2120.50
Battleplan for the Day
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Lawrence's Comment
Recap
Consolidation play initially with both Y-1 and Y+1 tested. Breakout play was clean and gave us Y-3 in 1 go. then the weekly range was over extended (as I ...
Lawrence's Comment
Recap
Picture perfect seasonal shift from bullish to bearish mode. Previous week close resistance sent Cable straight down to Y-1 from break of the rising wedge that spanned 2 weeks. ...
Dow 30 Apr 18 to Apr 22 Outlook
Lawrence’s Comment
The selloff scenario played out where the target of Y-3 was tagged.
The strength of the rally in the 2nd half of the week is a bit surprising but not unexpected because that was a quarterly support level.
Outlook
A retest of March close/high is expected.
That can happen in 2 very different situations.
First, if B-0 acting as support early next week, we get a quick zoom to the target.
The other scenario, however, is a deeper pullback to Y-2 at a slow pace which means the upside target may not be tagged within the week.
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