Trading Edges That Last
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As Featured In
S&P 500 Aug 17 to Aug 21 Outlook
Lawrence’s Comment
News shock forced ES to open above Y-0 and started a squeeze back up to pre-breakdown crime scene. Then news shock from China took over the tap with ES opening below Y-0 and flushed back down to fill the weekly gap below. 2nd day China devaluation actions took ES below Y-1 with a flush. Flush low in place forcing Es straight back up to Y-0. Closed the week near Y-0 and above midpoint.
Outlook
Flush low reversal have enough momentum to take ES back up to fill the open gap above. But it could be all it can do due to end of summer low volume condition. Consolidation week likely with reduced range.
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