Recap Pretty much behaved exactly like Dow. Closed the week near week high and Y+2.
Outlook The IHS in place that is visible on 30-min and hourly points to a run to 1570.
It can happen quickly, meaning that ES simply explode to the upside non-stop and finish the job by the end of next week. Or, it can do it slowly, meaning that it drifts higher with tight range.
Since it is March break weeks, I expect the latter case is more likely.
S&P 500 Mar 11 to Mar 15 Outlook
Lawrence’s Comment
Pretty much behaved exactly like Dow. Closed the week near week high and Y+2.
Outlook
The IHS in place that is visible on 30-min and hourly points to a run to 1570.
It can happen quickly, meaning that ES simply explode to the upside non-stop and finish the job by the end of next week. Or, it can do it slowly, meaning that it drifts higher with tight range.
Since it is March break weeks, I expect the latter case is more likely.
Share