S&P 500 Weekly Outlook 25-29 Oct

We had another week of complete obliteration of retail shorting. Last two weeks the market produced a lot of buy-side imbalance which we could see some retracement. At the moment I'm looking at last week (18-22 October) price range and where the liquidity sits as well as where the CME algo will want to reach to rebalance some of the buy-side imbalance. Ideally, I would like to see price retracing to the discount range of last week as indicated. Within the Discount range, we have the mid-point of buy-side imbalance and a Gap slightly lower. If we get even lower retracement during the week I will update the outlook but for the time being, these are the levels I'm looking at. If I see a reaction and support on the lower timeframes I'll be adding some more long positions to target the 4583. We'll see how it plays out.