Recap Pocket below Y-0 was taken care of first thing in the week, giving ES an excuse to go higher to fill the open gap above right after. 2 legs up to finally close the gap but then Deutsche Bank event dropped ES back down to retest the support. That did not stop ES from gaining back all the ground and print week high after. Closed the week above Y-0 and midpoint.
Outlook Inside week points to potential breakout mode with strong support at Y-0 / B-0 for B+2 run first. Sudden reversal from above B+1 breaking below Y-0/B-0 support will likely follow thru with B-1 and B-2 targets.
Overview
Emini overnight range 2032.50 up to 2052.00 (at 9:05 am)
Overnight Midpoint 2042.25
Previous Week Close 2040.75
Emini S&P is now trading at the top part of its range with ...
S&P 500 Oct 03 to Oct 07 Outlook
Lawrence’s Comment
Pocket below Y-0 was taken care of first thing in the week, giving ES an excuse to go higher to fill the open gap above right after. 2 legs up to finally close the gap but then Deutsche Bank event dropped ES back down to retest the support. That did not stop ES from gaining back all the ground and print week high after. Closed the week above Y-0 and midpoint.
Outlook
Inside week points to potential breakout mode with strong support at Y-0 / B-0 for B+2 run first. Sudden reversal from above B+1 breaking below Y-0/B-0 support will likely follow thru with B-1 and B-2 targets.
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