Recap Pullback over first 2 days and then NFP week pattern took over. Closed the week above Y+1 and midpoint.
Outlook Thin rising channels do not last. They are also often important swing top for daily level swings. Watch for sudden take down to 2000 and below. It is not necessary the beginning of something serious, just realignment of inventories.
Lawrence's Comment
Recap
Y-1 retested and defended. For more details read the comments on Dow. Closed the week near midpoint.
Outlook
Almost inside week. Y-1 defended means B+1 will be challenged.
Critical ...
S&P 500 Nov 10 to Nov 14 Outlook
Lawrence’s Comment
Pullback over first 2 days and then NFP week pattern took over. Closed the week above Y+1 and midpoint.
Outlook
Thin rising channels do not last. They are also often important swing top for daily level swings. Watch for sudden take down to 2000 and below. It is not necessary the beginning of something serious, just realignment of inventories.
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