Recap Monday coiled actions led to upside breakout to Y+1. Y+1 resistance gace us a drop back down to Y-0. Y-0 failed to hold ES up and gave us almost Y-1. Mrs. Yellen’s comments on Friday led to wild swing to the upside first but not able to clear the original breakdown crime scene. ES collapsed since on measured move basis. Closed the week near Y-1 and below midpoint.
Outlook Outside reversal week points to more downside. B-0 strong resistance until proven otherwise. Y-2 and Y-3 in play.
Recap of Last Week Pulled back to yellow zone then took off and rally towards the green zone. Stalled at the previous target area, which is slightly below the ...
Recap of Last Week Pulled back to yellow zone then took off and rally towards the green zone. Stalled at the previous target area, which is slightly below the ...READ MORE
S&P 500 Aug 29 to Sep 02 Outlook
Lawrence’s Comment
Monday coiled actions led to upside breakout to Y+1. Y+1 resistance gace us a drop back down to Y-0. Y-0 failed to hold ES up and gave us almost Y-1. Mrs. Yellen’s comments on Friday led to wild swing to the upside first but not able to clear the original breakdown crime scene. ES collapsed since on measured move basis. Closed the week near Y-1 and below midpoint.
Outlook
Outside reversal week points to more downside. B-0 strong resistance until proven otherwise. Y-2 and Y-3 in play.
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