S&P 500 Jul 28 to Aug 01 Outlook

Recap
Gap down with Dow but testing the Y-0 zone only. Rallied since upto 100% absolute range expansion. As mentioned last week, we need a decisive break above Y+1 for continuation to the upside. We did not get one so pullback to B-0 at the end of the week. Closed the week above Y-0 and near midpoint.

Outlook
4th week with about the same weekly range. It is a signature of well structured environment. But such environment do not last. Expect a more volatile period starting now.

As long as Y+1 acting as resistance, B-2 is in play.