Recap ES dropped back to Y-0 as expected. The breakdown scenario also unfolded right after. ES found support after testing the swing low on daily. Closed the week near Y-1 and below midpoint.
Outlook Wide range selloff week right after a week of extreme gain likely scare off / cleaned out many traders this week. Consolidation is likely with strong resistance at B-0.
Lawrence's Comment
Recap
Opened above Y+1. No FBO as Euro stayed above Y+1 all the way til its breakout move to Y+4. Consolidated since. Closed the week above Y+3 and midpoint.
Outlook
Unusual breakout ...
S&P 500 Mar 30 to Apr 03 Outlook
Lawrence’s Comment
ES dropped back to Y-0 as expected. The breakdown scenario also unfolded right after. ES found support after testing the swing low on daily. Closed the week near Y-1 and below midpoint.
Outlook
Wide range selloff week right after a week of extreme gain likely scare off / cleaned out many traders this week. Consolidation is likely with strong resistance at B-0.
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