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Lawrence's Comment Recap As stated in my newsletter to my premium members, an average of 2% drop is expected in December before year end rally can happen. And here we are, having ...READ MORELawrence's Comment Recap Right from the start of the week Dow moved higher but struggled to stay above Y+1. The spike high that led to a close well below Y-1 confirmed the ...READ MORE
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S&P 500 Jul 08 to Jul 12 Outlook
Lawrence’s Comment
No continuation selloff. Instead we got a consolidation week. ES moved around Y+1 with no directional push until end of the week after NFP report. Closed the week above Y+1 and midpoint.
Outlook
ES has now cleared the major resistance giving it a chance to go higher to at least B+2 which lines up at the price level before its last breakdown point.
Until ES can drop below Y+1 / B-0 and that turns into resistance it is difficult to fight this July monthly upside bias.
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