Recap Similar to Dow, ES was having its consolidation week. Traded equal distance from its open. Closed the week above Y+1 and near week high.
Outlook B+1 resistance points to at least retest of B-1 and likely below B-2. It is not necessary an important top, just that the price distribution needs some re-balance before ES can decide which way to go.
Lawrence's Comment
Recap
Similar to NQ, ES got slammed down from its upside breakout, causing the breakout longs and pullback longs to liquidate their positions in a panic. Ended the week ...
S&P 500 Sep 01 to Sep 05 Outlook
Lawrence’s Comment
Similar to Dow, ES was having its consolidation week. Traded equal distance from its open. Closed the week above Y+1 and near week high.
Outlook
B+1 resistance points to at least retest of B-1 and likely below B-2. It is not necessary an important top, just that the price distribution needs some re-balance before ES can decide which way to go.
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