Trading Edges That Last
- You May Also LikeESNQAH High3498.2512129.75AH Mid3491.2512111.38AH Low3484.2512093.00READ MORE
Lawrence's Comment Recap Topped at the resistance area as expected and sold off to Y-0 as expected as well. Outlook A choice has to be made here and that depends on gold. ...READ MOREFor more information about this report please refer to the Market Bias Informant pageREAD MORELawrence's Comment Recap Target of 1.20 tagged early in the week. Then SNB mess sent this back down to Y-0 support. A squeeze was launched with parabolic target at Y+3 tagged by ...READ MORE
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S&P 500 Sep 29 to Oct 03 Outlook
Lawrence’s Comment
As expected, the FBO mentioned last week gave us a drop back down to Y-0 and then Y-1. That turned Y-0 into strong resistance. Retest of Y-0 failed. ES simply collapsed straight down until 100% absolute range was reached. Closed the week below Y-0 and midpoint.
Outlook
Both upside and downside targets are “unsafe”. The way the last 2 swing bottoms on 30-minutes show that there is lack of tractions to hold the support zones. That means ES can easily violate B-1 and drop to B-2 and below.
Yet, the 2 open gaps above are asking to be filled. Should ES find an excuse to go above B-0, it will zone higher quickly to get them. This makes the environment best engaged thru day trading, not swing trading.
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