S&P 500 Sep 10 to Sep 14 Outlook

Recap
Rejected Y-1 in the beginning of the week with Y-0 failed to act as resistance hinted that Y+1 was going to be challenged. The breakout to the upside did not stop at all at Y+1, making it likely to tag Y+3. ES tagged Y+3 and paused there since. Closed the week at week high and above Y+3.

Outlook
Out of the 3 indices, ES has the cleanest rejection of Y-1. It is now leading NQ and Dow on daily timeframe. The all important 1440 area will likely be challenged very soon.

Any surprises from the euro zone, however, will easily send this market back down to 1400 area, where this short squeeze started.

Expect Y+4 to put a cap on this up leg and pullback to Y+1 / Y+2 area likely.