Recap Breakout mode triggered to the downside. Y-3 tagged quickly and extended to Y-4 (also first week of month midpoint) before a bounce. Closed the week above midpoint.
Outlook The selloff was so sudden, it caught many people off guard. The end of week rally was an attempt to squeeze the late shorts so that a better price level can be created for the unloading of risk to dip buyers. First upside target for the week is Y-1. Closing the month below that point means B-0 is the likely next target and then a gap fill below. If Feb close managed to close above Y-1, further short squeeze can take the market upto B+1 for a showdown. Huge volatility in store over the coming 2 weeks.
Lawrence's Comment
Recap
Ninja popped higher with upside target tagged as expected. Resistance at Y+3 keeping the range in check. Closed the week near Y+2 and above midpoint.
Outlook
Strong resistance at ...
Lawrence's Comment
Recap
Held Y-1 in the beginning of the week and drifted higher to Y-0. Found resistance and trashed down to my downside target Y-2. Went sideway since. Closed the week ...
S&P 500 Feb 28 to Mar 04 Outlook
Lawrence’s Comment
Breakout mode triggered to the downside. Y-3 tagged quickly and extended to Y-4 (also first week of month midpoint) before a bounce. Closed the week above midpoint.
Outlook
The selloff was so sudden, it caught many people off guard. The end of week rally was an attempt to squeeze the late shorts so that a better price level can be created for the unloading of risk to dip buyers.
First upside target for the week is Y-1. Closing the month below that point means B-0 is the likely next target and then a gap fill below.
If Feb close managed to close above Y-1, further short squeeze can take the market upto B+1 for a showdown.
Huge volatility in store over the coming 2 weeks.
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