Trading Edges That Last
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Lawrence's Comment Recap Consolidated around previous week close for 2 days and then took off. After new high above Y+1 pullback to previous week close. Closed the week above Y+1 and midpoint. Outlook 1.08 ...READ MORERecap of last week First move was a gap up followed by breaking below the yellow zone with minimal retest (just one 4 hour bar). This is one the ...READ MORE3DP Odds Table (SPY) 2018-09-18USDCAD Jan 20 to Jan 24 OutlookES Chart 2016-09-29Real-time Commentaries 2016-1-25Intraday Cycle Projection (ES) 2016-02-16ES Chart 2015-10-013DP Odds Table (SPY) 2014-08-27Nasdaq 100 Oct 25 to Oct 29 OutlookReal-time Commentaries 2014-4-25EURUSD Week of Nov 29th to Dec 3rd
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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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