Trading Edges That Last
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S&P 500 Jun 09 to Jun 13 Outlook
Lawrence’s Comment
Minimal pullback to Y-0 and then ES simply took off. One of the strongest NFP week in recent months. Closed the week above Y+3 and near week high.
Outlook
Low volume levitation has its limitations. Once the volume is unlocked at key area with blow-off top actions, price level has to answer the void below. 1900 will be the likely pullback zone this month if a swing top is formed.
At B+2 ES would have completed a 100 point run with no pullback. Usually we get no less than a 30 point pullback reaction for such a run. That will mainly be day traders’ opportunity though.
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