Trading Edges That Last
- You May Also LikeESNQAH High1846.753690.75AH Mid1843.883684.63AH Low1841.003678.50READ MORE
Lawrence's Comment Recap Took a whole week of up drift to go back up to the top of the resistance zone mentioned last week. Tight range and no conviction. Closed the week ...READ MORELawrence's Comment Recap Y+1 was breached quickly in first half of the week invalidated the bearish bias. The door to Y+2 was opened since. Y+2 tagged eventually at the end of the ...READ MORELawrence's Comment Recap As expected stuck within the tight week established over the past several weeks. Closed the week near midpoint. Outlook If B-0 acts as support and push for a breakout ...READ MOREES Chart 2010-07-20Intraday Cycle Projection (ES) 2020-10-06Real-time Commentaries 2020-1-6EURUSD Aug 01 to Aug 05 OutlookReal-time Commentaries 2011-6-29US Market Pre-Open 2014-2-25Hot n Cold (SPY) 2019-7-26EURUSD Nov 18 to Nov 22 OutlookDow 30 Jul 07 to Jul 11 OutlookUSDCAD Apr 02 to Apr 06 Outlook
As Featured In
S&P 500 Apr 18 to Apr 22 Outlook
Lawrence’s Comment
Just like NQ, ES tested Y-0 at the start of the week and then immediately selloff to Y-2. Y-1 acted as resistance giving the selloff more firepower to the downside. The STOPD level target Y-3 was tagged on a gap down and ES took off from there. Closed the week above midpoint.
Outlook
The extra push higher that ES got in the end of the week is purely short squeeze and option expiration mess. There is no signs of accumulation nor visible buying volume.
A consolidation between Y-1 and Y-3 is needed in this case for the bulls and bears to sort out this mess. May take 1 to 2 weeks before a clear direction is formed.
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