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.
Lawrence's Comment
Recap
Euro zoomed back up to Y-0 as expected and stalled from there as the strong downside momentum is still in force. Reaching only 50% of the absolute range ...
Overview
Emini overnight range 2163.75 to 2172.50 (at 9:00 pm)
Overnight Midpoint 2168.00
Previous Week Mid 2161.00
Battleplan for the Day
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S&P 500 Aug 01 to Aug 05 Outlook
Lawrence’s Comment
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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