S&P 500 Sep 30 to Oct 04 Outlook

By News Robot

Lawrence’s Comment

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.

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