Recap ES tight range consolidation around previous week close until Friday. Gap down to Y-1 led to breakdown move with Y-3 target tagged. Closed the week below Y-3 and near week low.
Outlook More downside is expected. Strong bounce back to Y-2 or even Y-1 is reasonable.
S&P 500 Sep 12 to Sep 16 Outlook
Lawrence’s Comment
ES tight range consolidation around previous week close until Friday. Gap down to Y-1 led to breakdown move with Y-3 target tagged. Closed the week below Y-3 and near week low.
Outlook
More downside is expected. Strong bounce back to Y-2 or even Y-1 is reasonable.
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