S&P 500 Oct 14 to Oct 18 Outlook

Recap
Looking for weaknesses last week and we got that. ES tagged the minimal 5% pullback for the seasonal bias and took off since. ES did not stop until hitting 200% absolute range expansion. Closed the week above Y+1 and at week high.

Outlook
ES back up to the area where initial debt ceiling selloff started. It is now back to the zone and it will be another round of news driven environment from here.

A consolidation around B+1 is expected between slightly above Y+2 and slightly below Y+1.

This is not a normal market environment.