Recap ES spiked down to Y-1 and then tried to hold it since. Dow’s all out collapse dragged ES lower and forced ES to consolidate around Y-1. ES closed the week below Y-1 and midpoint.
Outlook Chart pattern not as bearish as Dow. Better say it is in a mess due to the strength in NQ and weaknesses in Dow pulling it 2 ways.
ES can easily drop to B-2 and B-3 as there is really no support below B-1.
Once ES trades above B-0, the shorts from last week will be squeezed hard putting B+1 and above potential targets.
Swing plays will be difficuly while daytrade opportunities are better this week.
S&P 500 Sep 30 to Oct 04 Outlook
Lawrence’s Comment
ES spiked down to Y-1 and then tried to hold it since. Dow’s all out collapse dragged ES lower and forced ES to consolidate around Y-1. ES closed the week below Y-1 and midpoint.
Outlook
Chart pattern not as bearish as Dow. Better say it is in a mess due to the strength in NQ and weaknesses in Dow pulling it 2 ways.
ES can easily drop to B-2 and B-3 as there is really no support below B-1.
Once ES trades above B-0, the shorts from last week will be squeezed hard putting B+1 and above potential targets.
Swing plays will be difficuly while daytrade opportunities are better this week.
Share