Trading Edges That Last
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Lawrence's Comment Recap As expected pullback to Y-0 and stuck in a tight range since. Consolidation around Monday range all week. Closed the week above Y-0 and below midpoint. Outlook 1-2-3 sell on 4 ...READ MOREESNQAH High1694.003215.75AH Mid1691.753210.88AH Low1689.503206.00READ MORELawrence's Comment Recap Consolidated around Y+1 until late in the week where it zoomed to new high for the week. Closed the week above Y+1 and midpoint. Outlook If it is going to breakout ...READ MORE
As Featured In
S&P 500 Dec 31 to Jan 04 Outlook
Lawrence’s Comment
What normal up drift? That bias was thrown out of the window right on Monday. Wednesday gapped higher and that defined the high of the week. Tagged Y-1 and bounced off a little. Just to drop again to get to Y-2 in 1 go. Another stronger bounce due to rumors spreaded by the politicians. That did not help as selloff resumed right after. Closed the week at the low near Y-2.
Outlook
After 4 pm close, ES actually flushed down to low 1380s. Hence the chart is not as bearish as it should look like. 1370 is measured move target which should provide some support. Tricky situation as the markets can all move swiftly once a deal is done. News driven market is not known to be friendly environment for daytraders.
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