Recap Got the retest I was looking for and dropped to support trend line like playing from a script. ES took off since and went straight up for Y+1. Closed the week above Y-0 and near week high.
Outlook Taking too much time to rally into a resistance is bearish. Challenging a resistance from below with no volume is bullish.
Very tricky price level to trade. An FBO against Y+1 / B+1 points to at least a retest of B-0. Not necessary a major top either as ES has been in congestion below 1900 for quite some time.
Lawrence's Comment
Recap
The bad news for bulls materialized last week. Dow tried hard to hold every intraday support zone yet breached them all when the news of another bank trouble had ...
Overview
Emini overnight range 2174.50 to 2181.50 (at 9:00 am)
Overnight Midpoint 2178.00
Previous Week Close 2177.75
Battleplan for the Day
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S&P 500 May 26 to May 30 Outlook
Lawrence’s Comment
Got the retest I was looking for and dropped to support trend line like playing from a script. ES took off since and went straight up for Y+1. Closed the week above Y-0 and near week high.
Outlook
Taking too much time to rally into a resistance is bearish. Challenging a resistance from below with no volume is bullish.
Very tricky price level to trade. An FBO against Y+1 / B+1 points to at least a retest of B-0. Not necessary a major top either as ES has been in congestion below 1900 for quite some time.
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