Trading Edges That Last
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S&P 500 Nov 21 to Nov 25 Outlook
Lawrence’s Comment
Early in the week tried to fill the gap above and failed. That points to the downside gaps in play. Later in the week 2 downside gaps were filled. Closed the week below Y-1.
Outlook
Not as bearish as NQ yet not as bullish as Dow. Landing right at the longer term support zone means there is a choice here to make.
If ES can rally back above Y-1 and that turning into support, a run towards B-0 and then gap fill at 1250 is likely.
If Y-1 stays as strong resistance, a push towards 1190 and below is possible.
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