Trading Edges That Last
- You May Also LikeFor more information about this report please refer to the Market Bias Informant pageREAD MOREESNQAH High2854.509085.75AH Mid2840.889046.25AH Low2827.259006.75READ MORE
Lawrence's Comment Recap Bullish bias for Y+1 retest turns into continuation run up to Y+2. 100% abolute range expansion stopped the run. Closed the week near Y+1 and below midpoint. Outlook The ...READ MORELawrence's Comment Recap Upside target Y+2 tagged. 1.33 resistance area challenged as expected. Closed the week above Y+1. Outlook Critical moment for euro here. If it can break above 1.33 area and ...READ MORE
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S&P 500 Jun 24 to Jun 28 Outlook
Lawrence’s Comment
Breakout to the downside after failure to clear the upside resistance. ES tagged the downside target mentioned last week perfectly and then bounced. Closed the week below B-0 and near Y-2.
Outlook
Short term (below daily level timeframes) oversold pointing to potential bounce off B-1 if it can successfully fend off the selling early in the week. Upside target back to B-0 area.
Longer term setup suggest that B-0 upto the gap fill level is now strong resistance zone that should not be breached until B-2 (or around 1540) is tagged. See this post to understand why.
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