S&P 500 Jul 30 to Aug 03 Outlook

By News Robot

Lawrence’s Comment

Recap
As mentioned last week, any weaknesses would land ES back down to Y-1. We got that right at the beginning of the week. After pullback to mid gap, ES flushed down to near Y-2 before bottoming out. Europe news shock forced a low in place and short squeeze took ES back to resistance above. Some officials obviously are not happy with the outcome, so feeding out one more news shock. That forced ES to gap up and filled the gap above from last week completely. Closed the week near week high.

Outlook
Completely messed up trading environment for swing traders. Daytrading is perfectly fine though.

Looking for some more upside and then consolidation til Summer Games is over.

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