S&P 500 May 23 to May 27 Outlook

By News Robot

Lawrence’s Comment

Recap
News shock at the beginning of the week sent ES above Y-0. FBO against Y-0 turned Y-0 into resisstance and a drop back down to Y-1. Test of Y-0 from below and failed to clear that gave us more selling until 100% absolute range expansion was reached. Closed the week below Y-0 and near midpoint.

Outlook
Y-1/ B-0 support can kick start a squeeze higher towards B+1. Topping out below B+1 will set the stage for another leg lower below B-1.

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