Trading Edges That Last
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Lawrence's Comment Recap Euro traded above Y-0, yet failed to hold above it leading to a flush straight down to Y-2 target. Closed the week below Y-1 and midpoint. Outlook The drop ...READ MORELawrence's Comment Recap Unfolded exactly as mentioned last week - tried to rally and stalled at Y-0. Eventually closed the week at Y-1. Outlook More weaknesses is expected. A test of B-2 ...READ MOREFor more information about this report please refer to the Market Bias Informant pageREAD MOREPrecog Vision – US Indices 2015-2-10Real-time Commentaries 2014-2-5EURUSD Nov 03 to Nov 07 OutlookES Chart 2005-12-013DP Odds Table (ES) 2012-04-103DP Odds Table (SPY) 2015-01-14USDCAD May 02 to May 06 Outlook3DP Odds Table (ES) 2014-02-26Real-time Commentaries 2019-9-30Precog Vision – US Indices 2017-11-29
As Featured In
S&P 500 Apr 29 to May 03 Outlook
Lawrence’s Comment
Dow provided the reason to go higher but it is ES that showed us what short squeeze can really do. Excluding the Y-1 low, ES did almost 40-point run straight up without any pullback if the 2-min crash is ignored. If the 2-min crash is accounted for as a normal move, it was still a 30-point run from that 2-min crash low straight up to also the year high so far. Closed the week at Y+1 and above midpoint.
Outlook
Historically, volatility almost always induce more volatility. The past 3 weeks gave us the best intraday range so far for a long time. It is not good news though as prior volatile environments all led to major bear markets which are difficult to trade in general.
This week as long as ES fails to push much higher above B+1, we are likely to get a move back down to B-0 and Y-0.
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