S&P 500 Jul 02 to Jul 06 Outlook

Recap
News shock from the start of the week failed to damage the bullish technical pattern I mentioned last time. Somehow Y-2 was never tagged in that flush on Monday. Then a double bottom was formed and squeezed higher. Another news shock to force ES lower yet this time cannot even push it down to week low. By the end of the week, a multi-stage news shock sent ES straight up to Y+1. Closed the week at the high.

Outlook
If B+1 failed to act as resistance, Y+2 to B+2 in play. The dramatic turns of events last week has trapped many bears, making it possible to go much higher. All it takes could be just a minor news shock.