S&P 500 Dec 12 to Dec 16 Outlook
By News Robot
Lawrence’s Comment
Recap
Similar to Dow except weaker. Gap top tested and bounced off. But failed to force for a gap fill above as well.
Similar to Dow except weaker. Gap top tested and bounced off. But failed to force for a gap fill above as well.
Outlook
Seldom do we get ES to close on a day that challenged 2 gaps and non of those are filled. That tells us very strong resistance above head and very strong support below B-1.
As long as we do not get more news shock, ES would likely drift around B-0 downto B-1 this week.
Comments
A general question on the weekly outlook.
I see that you look at not just the week that concluded (Blue), but also the week prior (yellow). Your forecasts some times target the Y levels, other times the B levels. Is there some logic that determines which of the levels becomes most relevant? e.g. completion of some structural objectives in Y so that B becomes more important.
I also wonder why Y levels even come to play, because one week of price action has occurred following the price action of the Y week. Any help on this will be very instructive to STOPD students to develop such outlooks in other markets.
Most of the time, the week prior to last week if it is also the 1st week of the month, plays a more important role in shaping the rest of the month thus you will see me referring to them.
Very simple – strictly STOPD principles and no magic. =)
Thank you for the quick response. I had considered that, but I recall such references even during the later weeks. I will study the archives with this bias in mind.