Recap FBO on weekly confirmed. Continuation sell off waited until the very last moment to tag Y-2 target. Closed the week below Y-1 and midpoint.
Outlook Y-1 / B-0 strong resistance until proven otherwise. More downside is expected but do not assume the drop will be clean as daily level supports are now lining up in layers below B-1.
Lawrence's Comment
Recap
My bullish view is proven correct. Y+1 was tested mid week and eventually taken out by end of the week. Closed the week above Y+1.
Outlook
Weekly and monthly ...
S&P 500 May 02 to May 06 Outlook
Lawrence’s Comment
FBO on weekly confirmed. Continuation sell off waited until the very last moment to tag Y-2 target. Closed the week below Y-1 and midpoint.
Outlook
Y-1 / B-0 strong resistance until proven otherwise. More downside is expected but do not assume the drop will be clean as daily level supports are now lining up in layers below B-1.
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