Recap Gap down to 3900 and staged a fight back up to Y-1 but failed to get there until the 3rd try. Y-1 cleared but 100% absolute range limited the upside. Closed the week above Y-1 and near week high.
Outlook More upside likely but the gap below will likely be taken care of within a week or two.
Overview
Emini overnight range 2164.50 to 2171.75 (at 9:00 am)
Overnight Midpoint 21768.00
Previous Month High 2171.75
Battleplan for the Day
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ContentReviewEuro Not the Time to Touch ItS&P Delaying the Inevitable Means a Steeper Correction AheadGold Shaping Up for More UpsideBig Picture SummaryReviewEuro another try to break the channel resistance. Outcome ...
Nasdaq 100 Aug 31 to Sep 04 Outlook
Lawrence’s Comment
Gap down to 3900 and staged a fight back up to Y-1 but failed to get there until the 3rd try. Y-1 cleared but 100% absolute range limited the upside. Closed the week above Y-1 and near week high.
Outlook
More upside likely but the gap below will likely be taken care of within a week or two.
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