S&P 500 Jul 25 to Jul 29 Outlook

By News Robot

Lawrence’s Comment

Recap
The weakest out of the 3 major indices, still rallied all its way until 200% absolute range expansion was completed. Closed the week at Y+2.

Outlook
The failure to take out Y+2 and fill the gap above created a 50/50 scenario for next week. Early this week if gap up or trade up on Monday to fill the gap above, range expansion to the upside is more likely and 1st target is B+2.

If bad news from the debt talk hits, a shock can send ES down quickly to B-0.
Bad news here means doing the long term right thing of cutting deficit and raising taxes.

Please read the comments on NQ and Dow for related analysis.

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