Recap A steep selloff to start the week as expected. Rallied since after the open gap below was filled. Y+2 was tagged. Closed the week above Y+1 and midpoint.
Outlook NFP week points to potential updrift all week until NFP Friday. This puts B+2 round number 2000 in play. Rally on no volume is not a good sign though and the complete rally can be wiped out within days after NFP.
S&P 500 Feb 29 to Mar 04 Outlook
Lawrence’s Comment
A steep selloff to start the week as expected. Rallied since after the open gap below was filled. Y+2 was tagged. Closed the week above Y+1 and midpoint.
Outlook
NFP week points to potential updrift all week until NFP Friday. This puts B+2 round number 2000 in play. Rally on no volume is not a good sign though and the complete rally can be wiped out within days after NFP.
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