Trading Edges That Last
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Lawrence's Comment Recap Got more downside as expected. 50% range of previous wide range week is quite normal. Almost tagged Y-2 before finding support. Closed the week below midpoint and Y-1. Outlook Earlier part ...READ MOREESNQAH High1314.002335.00AH Mid1309.002319.50AH Low1304.002304.00READ MORELawrence's Comment Recap Y-0 did not act as resistance and NQ lifted ES up breaking above Y+1. That gives way to our normal upside target of Y+2. Y+2 was tagged ...READ MORELawrence's Comment Recap As expected ninja consolidated to the down side. Dropped down to Y-0. Closed the week near Y-0 and below midpoint. Outlook Very tricky setup with 2 completely opposite outcomes. First, if the ...READ MOREPrecog Vision – US Indices 2018-10-30Real-time Commentaries 2021-11-11USDCAD Sep 16 to Sep 20 OutlookES Chart 2020-07-07US Market Pre-Open 2011-3-25S&P 500 Feb 20 to Feb 24 OutlookUSDJPY Feb 17 to Feb 21 OutlookIntraday Cycle Projection (SPY) 2015-05-153DP Odds Table (ES) 2014-11-25ES Chart 2016-08-24
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S&P 500 Aug 13 to Aug 17 Outlook
Lawrence’s Comment
Gap above Y+1 at the start of the week forced another systematic squeeze on shorts. Tight range all week. At the final hours on Friday, rallied to close the week near its high.
Outlook
S&P so close to year high is it reasonable to expect not many people would reduce their long positions or start new short positions in front of that. So that staged 2 scenarios to unfold next week. Either a slow drift up to year high, or, an explosive one to take it out.
Both cases do not point to more upside beyond current year high by 1% to 2%.
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