Recap NFP week bias worked out again even though ES looked like it wanted to break down after Tuesday’s selloff. By Friday after NFP, ES flushed lower yet someone stepped in to support the market. Shorts are squeezed hard going into the end of the week. Closed the week above midpoint and Y-0.
Outlook Inside week. Y-0 and midpoint near each other. Bear flag visible on 30-minute. A break of B-0 and that turning into resistance points to retest of Y-1.
Since the trouble in Syria will take time to resolve. ES may simply drift around the first few days this week.
Lawrence's Comment
Recap
Y-0 acted as support and closed the week above Y+1.
Outlook
Consolidation after a strong rally is normal. breakout above Y+1 to B+1 will give us B+3 target.
Failure ...
Lawrence's Comment
Recap
Was looking for a break of Y-1 and then a slide down to Y-3. Did not happen. No clean break down. Just a consolidation week around Y-1. Closed the ...
S&P 500 Sep 09 to Sep 13 Outlook
Lawrence’s Comment
NFP week bias worked out again even though ES looked like it wanted to break down after Tuesday’s selloff. By Friday after NFP, ES flushed lower yet someone stepped in to support the market. Shorts are squeezed hard going into the end of the week. Closed the week above midpoint and Y-0.
Outlook
Inside week. Y-0 and midpoint near each other. Bear flag visible on 30-minute. A break of B-0 and that turning into resistance points to retest of Y-1.
Since the trouble in Syria will take time to resolve. ES may simply drift around the first few days this week.
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