Recap Very nice rally off the support zone mentioned last week. Rally until 100% absolute range expansion completed. Y+2 rejected leading to a drop back down to Y+1. Closed the week above Y+1 and midpoint.
Outlook Completely different from Dow, NQ has been holding onto its bullish up trend on weekly. This gives bulls an advantage in containing the potential selloff / correction during the seasonally volatile period.
A decisive break of B-1 will lead to a strong pullback on weekly back down to B-3.
Lawrence's Comment
Recap
US dollar trashed, but the stock market did not hold up. The correlation had broken down. The most interesting thing from last week was the waterfall formation that ...
Lawrence's Comment
Recap
A pullback was expected and ninja dropped to Y-0 and below support area. Then its inability to clear Y-0 triggered a go for Y-1. Y-1 tagged and failed to ...
Nasdaq 100 Jul 28 to Aug 01 Outlook
Lawrence’s Comment
Very nice rally off the support zone mentioned last week. Rally until 100% absolute range expansion completed. Y+2 rejected leading to a drop back down to Y+1. Closed the week above Y+1 and midpoint.
Outlook
Completely different from Dow, NQ has been holding onto its bullish up trend on weekly. This gives bulls an advantage in containing the potential selloff / correction during the seasonally volatile period.
A decisive break of B-1 will lead to a strong pullback on weekly back down to B-3.
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