S&P 500 Jul 04 to Jul 08 Outlook

Recap
As expected, ES dropped below 2000 to challenge its monthly support zone. Picture perfect Y-2 test sent ES striaght back up to Y-1, breakout and zoom higher to Y-0 and then gun for open gap fill at Y+1. Closed the week above Y-0 and near week high.

Outlook
V-shape reversal points to more upside but not necessary this week. Don’t be surprised that we are going to get a sudden sharp pullback as the focus now switching over to the US election. In other words, more trash talking from politicos and intraday volatility will stay high.