Trading Edges That Last
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Lawrence's Comment Recap FBO against Y+1 gave us Y-0 and the next support below. Closed the week above Y-0 and midpoint. Outlook Non-stop intervention by ECB and other central banks, Euro has ...READ MOREESNQAH High1860.753700.25AH Mid1848.253676.25AH Low1835.753652.25READ MORELawrence's Comment Recap Went higher as expected. Then consolidated above Y+1. Closed the week at week high. Outlook More upside expected early next week. Sudden reversal near Y+2 points to a drop ...READ MORE
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S&P 500 Jan 28 to Feb 01 Outlook
Lawrence’s Comment
A mysterious week indeed. Despite all factors going against the market, Dow and ES matched straight up clearing their resistances and landed ES at 1500 area. Closed the week near week high and above Y+2.
Outlook
Obvious upside triangle favours a breakout to the upside with target above B+2.
B+1 acting as resistance sending ES below B-0 will trigger double top with target B-1.
The odds is pretty balance between the 2 so it will be difficult to lean on one side for swing trade.
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