S&P 500 Aug 27 to Aug 31 Outlook

By News Robot

Lawrence’s Comment

Recap
The pullback I was looking for happened. Dropped all the way to B-1 as well. The news shock from Euro zone on Friday (Yes, Friday again!) forced a short squeeze pushing ES back to week midpoint. Closed the week at midpoint.

Outlook
The structure of this rally is not damaged as ES did not breach Y-1. So there is no confirmation that this rally is over. It is very important to remember that.

As long as B-1 is holding, ES can stage a rally back up to B+1 for a rematch.

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