Trading Edges That Last
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Lawrence's Comment Recap Consolidation around Y-0. Tried hard to hold Y-0 early in the week but failed. Leading to a move down to equal distance below Y-0. There was no panic selling ...READ MORELawrence's Comment Recap Breakout to the down side. Tagged B-1 downside target. Not quite pullback. More like price shock due to the way gold moved last week. Closed the week near week ...READ MOREFor more information about this report please refer to the Market Bias Informant pageREAD MORE
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S&P 500 Jul 18 to Jul 22 Outlook
Lawrence’s Comment
S&P acted the weakest as noted last week. It dropped 100% absolute range expansion to the downside and tagged Y-3.
Outlook
Although S&P was weak, it is still holding above the midpoint of the rally from 2 weeks ago. That is a bullish sign.
If S&P can trade and close above B-0 this week, we get confirmation of the daily timeframe uptrend to resume.
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