Recap Y-0 did not act as resistance giving way to a test of Y+1. 100% absolute range expansion completed right before FOMC announcement. Strong reaction after and sent ES back down to where it started. Closed the week below Y-0 and near week low.
Outlook Y-0 / B-0 now strong resistance. A break below B-1 points to B-2 in play.
S&P 500 Sep 21 to Sep 25 Outlook
Lawrence’s Comment
Y-0 did not act as resistance giving way to a test of Y+1. 100% absolute range expansion completed right before FOMC announcement. Strong reaction after and sent ES back down to where it started. Closed the week below Y-0 and near week low.
Outlook
Y-0 / B-0 now strong resistance. A break below B-1 points to B-2 in play.
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