S&P 500 May 07 to May 11 Outlook

By News Robot

Lawrence’s Comment

Recap
Consolidation play worked out on first 4 days of last week. NFP Friday killed the pullback party and the aggressive swing long players are toasted. Tagged 2X tight range target. Closed the week near its low.

Outlook
Tight range breakout points to 2X to 3X target. 2X was tagged last week, so either 3X is going to happen very quickly early next week, or the downside objective is already completed.

If tagging Y-1 leads to a bounce above B-1 swiftly, 1-2-3 long setup from there points to B-0 and potential swing bottom in place.

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