S&P 500 Jan 14 to Jan 18 Outlook

By News Robot

Lawrence’s Comment

Recap
Weak start with gap down. Sold off yet the gap below was not even challenged. Drifted up through multiple gap up days. Closed the week above Y+1 and near week high.

Outlook
Rising wedge. If we get a sell setup off Y+1, ES should be able to drop to year low so far in 1 go. And that will in turn gives us a flush to at least Y-0.

ES has a much cleaner bearish price pattern comparing to Dow. The important thing is that ES must trade below Y+1 first to trigger the sell potential.

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