S&P 500 Nov 12 to Nov 16 Outlook

Recap
Avoided Y-1 in beginning of the week and rallied all the way to almost Y+1. Clean 1-2-3 sell from there gave us the breakout trade I mentioned last week. Y-3 downside target tagged. Closed the week near week low and Y-3.

Outlook
We just got one of the easiest and most profitable week on the indices this year IF you focus on the potential double whiplash pattern. This week however, will be different. The wide range induced from last week will make intraday trading more difficult as many traders got burned last week. Likely lower volume, more slippage and false breakouts.

Option expiration points to upward bias to tag B-0 area.

If the rare scenario of breaking below B-1 happens, beware that it may force option MMs to go all out hedging at a loss and flush ES down to B-2.