S&P 500 Jan 07 to Jan 11 Outlook

By News Robot

Lawrence’s Comment

Recap
Similar to Dow, ES pushed the envelope all the way. It exceeded Dow in terms of volatility during the holiday season. Closed the week near week high and above Y+3.

Outlook
ES does not have a rising wedge in place like Dow so the weaknesses is not as obvious.

If ES spends majority of the week sitting around B+1 and capped below Y+4, will be looking for a swing short back down to Y+2. Need NQ and Dow to go in sync or the short side will not stand a chance.

The less likely scenario is that ES clearing 1470 in 1 go, that stage a melt up to 1500.

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