S&P 500 Oct 15 to Oct 19 Outlook

By News Robot

Lawrence’s Comment

Recap
My false breakout premises was correct. Leading to an all out selloff until 100% absolute range expansion is completed before ES was willing to stop. Closed the week near week low.

Outlook
Similar to Dow, ES has a huge double top formation in line with the neckline near 1435 area. As long as that area stays as resistance, ES may have to slide down to B-2 before finding a good support zone.

Once ES has cleared the neckline to the upside, it will trigger a squeeze to B-0 and above.

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