Trading Edges That Last
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S&P 500 Aug 01 to Aug 05 Outlook
Lawrence’s Comment
Very similar to Dow, made a waterfall pattern and collapsed down to Y-1. Closed the week below midpoint BUT almost made it to close above Y-1.
Outlook
The attempt to close above Y-1 was made during the late few minutes of trading on Friday. It actually rallied above and cleared Y-1 but then fell back down at the very last minute on settlement adjustment.
Potential bottom in place. Need a clean higher low rally visible on 30-min first.
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