Recap ES followed Dow and pulled an op ex 2-way play on the players. Closed the week near Y-0 and midpoint. To learn more about op ex weeks, read my Survival Guide.
Outlook Inside week with midpoint near Y-0, breakout mode triggered. The problem is that a breakout play out of a 40 points range may not have enough fuel to go far. We need B+1 turning into support, or B-1 turning into resistance before we can get a strong directional play in coming weeks.
For now, we may have to deal with yet another consolidation week.
Lawrence's Comment
Recap
Instead of selling right off the start of the week, the 3 stock market indices chose to form a bigger top and sold off hard the rest of ...
S&P 500 Mar 24 to Mar 28 Outlook
Lawrence’s Comment
ES followed Dow and pulled an op ex 2-way play on the players. Closed the week near Y-0 and midpoint. To learn more about op ex weeks, read my Survival Guide.
Outlook
Inside week with midpoint near Y-0, breakout mode triggered. The problem is that a breakout play out of a 40 points range may not have enough fuel to go far. We need B+1 turning into support, or B-1 turning into resistance before we can get a strong directional play in coming weeks.
For now, we may have to deal with yet another consolidation week.
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