S&P 500 Aug 01 to Aug 05 Outlook

By News Robot

Lawrence’s Comment

Recap
Consolidation week with Y+1 and Y-1 being challenged multiple times. FOMC announcement did not produce enough fuel for ES to breakout of its range. Closed the week near Y+1 and week high.

Outlook
Ledge after a strong run up is bullish. A push higher to B+2 is likely. If we get a FBO against B+1, it will give us B-1 and B-2.

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