S&P 500 Aug 22 to Aug 26 Outlook

By News Robot

Lawrence’s Comment

Recap
The more likely case of sell off materialized. The sell off, however, stopped at 100% absolute range expansion by end of week.

Outlook
The selloff stopped above Y-1 is likely because of option expiration, not because of buying power showed up above Y-1.

Weaknesses is likely to carry on early next week until some selling extreme has happened.

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Comments
  • smilingsynic August 21, 2011 at 1:45 pm

    Last week had a higher high and a higher low, but with a down close.

  • Lawrence Chan August 21, 2011 at 8:44 pm

    Fully expect downside range expansion once prev week low is breached.

    Looks like Sunday AH trading is below that already.

  • smilingsynic August 21, 2011 at 9:28 pm

    If you’re trading AH, look out for a potential Gaddafi pop. He could be gone by morning.

    Then again, the death of bin Laden marked a market TOP.

  • smilingsynic August 21, 2011 at 9:31 pm

    So far we have a downside gap from Friday.

    Maybe you can add that to your next ebook–Sunday AH gaps–do they fill by morning or by 415 close?

  • Lawrence Chan August 21, 2011 at 10:16 pm

    Turning into a gap up now.

    Will look into this Sunday / Monday gap behaviour more closely.

    Certain biases definitely worth writing about.

  • Lawrence Chan August 21, 2011 at 10:17 pm

    I think Libya situation is not as favourable as they thought so far.

    Because it is not a ground operation by the Western military, just the rebels supported by them.

    There is a difference.

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