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
As expected, the pullbacks are buying opportunities. Quiet week overall all during this holiday season. Closed the week above midpoint.
Outlook
3rd week with tighten range although higher high and ...
Lawrence's Comment
Recap
Beautiful all week bear flag from the week before led to a gap down open near Y-1. Test of support below Y-1 produced a strong double bottom on 4 ...
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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