Trading Edges That Last
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Lawrence's Comment Recap Easy play of last week. 3 pushes up pattern mentioned last week sent Euro straight back down to my target. Closed the week below Y-1 and near week low. ...READ MORELawrence'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 No further sell off, just jawboning from ECB and Fed to pop the pair. It is expected and obviously has been sold into at Y-0. Closed the week ...READ MOREFor more information about this report please refer to the Market Bias Informant pageREAD MORE
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S&P 500 May 02 to May 06 Outlook
Lawrence’s Comment
The short squeeze scenario played out. The range expanded without any significant retracement. That is a bit surprising.
Outlook
Still no signs of accumulation and breadth is diverging from the rally. Very close an important top now. Again, knowing that it is developing a top does not mean that you just step in to short it.
In fact, when we know that is the case, the best bet is to stay on the longside until important price zones are tagged. mid 1380 is one such zone.
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