Recap Unlike NQ, ES ended last week without filling the gap above completely. ES was the weaker one. The rally was a controlled one because by the end of the week, B-0 turned out to be right above the range of first half of the week.
Outlook As long as B-0 acts as support, the daily level down trend is now completely broken. It is not necessary for the market to rally quickly to the upside from this point onward. It can simply drift up or going sideway for several weeks.
Lawrence's Comment
Recap
Lifted higher to resistance before the test of Y-1, giving it enough fuel to break below Y-1 for 100% absolute range expansion before stopping. Closed the week at ...
Review of Forecast for May 25, 2015
The expectation of a modest decline was correct. 1.5% decline was registered but did not drop further thanks to rumors were spread about Greece ...
Lawrence's Comment
Recap
No time wasted on further compression. The pair simply break the lower boundary in 1 go. Not quite make it to Y-3. First bounce failed to push back up ...
S&P 500 Mar 28 to Apr 01 Outlook
Lawrence’s Comment
Unlike NQ, ES ended last week without filling the gap above completely. ES was the weaker one. The rally was a controlled one because by the end of the week, B-0 turned out to be right above the range of first half of the week.
Outlook
As long as B-0 acts as support, the daily level down trend is now completely broken. It is not necessary for the market to rally quickly to the upside from this point onward. It can simply drift up or going sideway for several weeks.
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