Trading Edges That Last
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Lawrence's Comment Recap Y-2 / 1.26 indeed stopped the drop and staged a bounce. Yet it failed to clear Y-1 resulting in another flush lower to near Y-3. Closed the week below ...READ MORES&P 500 Jun 12 to Jun 16 OutlookES Chart 2008-09-16ES Chart 2007-09-04Precog Vision – US Indices 2021-4-22USDJPY Sep 07 to Sep 11 OutlookIntraday Cycle Projection (SPY) 2023-05-023DP Odds Table (SPY) 2015-02-17Intraday Cycle Projection (ES) 2021-12-21EURUSD Oct 06 to Oct 10 OutlookES Chart 2015-10-02
As Featured In
S&P 500 May 13 to May 17 Outlook
Lawrence’s Comment
Similar to Dow, ES ripped thru resistance zone and went straight up for days. Classic blowoff top type action. Almost tagged Y+2 and stalled. Closed the week near week high and above Y+1.
Outlook
Limited upside to below B+2 with possible whiplash action to drop back down to B-2.
It is clear that ES is in a topping process here. Structural boundaries will likely be breached at various timeframes without providing us actual direction of the market. Staying on the sideline is a good choice if this kind of volatility is not your cup of tea.
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