S&P 500 Aug 25 to Aug 29 Outlook

Recap
No selloff materialized as the gap and go play took over. Unlike Dow still trading below its all time high, ES has been pushing a new one this week hence the resistance it was facing below Y+3. Closed the week above Y+2 and midpoint.

Outlook
Another ATH play. If ES fails to close above the original high printed last month, we have a FBO in place for a serious pullback.

Normal expectation is that ES will trade in 50% range around the previous week close.