Trading Edges That Last
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Lawrence's Comment Recap Travelled higher to Y+2. Found resistance and moved back down to Y+1. Closed the week above Y+1 and below midpoint. Outlook As mentioned last week, Euro somehow loves to rally into ...READ MORE
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S&P 500 Feb 22 to Feb 26 Outlook
Lawrence’s Comment
ES follow through with its breakout above its 3 pushes down pattern on 30-min. Cleared Y+1 and tagged Y+2 quickly. Since then going sideway the rest of the week. Closed the week near Y+2 and above midpoint.
Outlook
Short squeeze rally does not last. The momentum would attract dip buyers but will likely result in sudden selloff back down to stronger support zone first. B+1 / B+2 FBO will give us B-1 and B-2 below.
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