Recap What I said last week played out – “At best a 20 points pullback is all bears can hope for right now”. ES consolidated around Y+1 during this option expiration week. Closed the week near the week high and above Y+1.
Outlook Another week setting the stage for one more parabolic run. That is in complete contrast to NQ as NQ has broken its up trend already. I am not sure if ES will be forced lower or would the momentum of ES will force NQ to go sideway or even drift up. Difficult week ahead for daytrading.
S&P 500 Jul 22 to Jul 26 Outlook
Lawrence’s Comment
What I said last week played out – “At best a 20 points pullback is all bears can hope for right now”. ES consolidated around Y+1 during this option expiration week. Closed the week near the week high and above Y+1.
Outlook
Another week setting the stage for one more parabolic run. That is in complete contrast to NQ as NQ has broken its up trend already. I am not sure if ES will be forced lower or would the momentum of ES will force NQ to go sideway or even drift up. Difficult week ahead for daytrading.
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