Recap NQ lifted higher first right off the open, that limited the expected drop to Y-1 by magnitude as mentioned last week. Anyway multiple attempts to clear Y+2 failed and led to a drop back down to Y-1. Found support there and bounced. Closed the week above Y+1 and midpoint.
Outlook Outside week, strong close. Weekly up trend intact and only sign of weaknesses is the picking up of volatility. A retest of B+1 is in the making as long as B-0 acts as support. Failing to hold B-0 could be the start of a down channel with Y-2 first target.
Lawrence's Comment
Recap
Took off from support mentioned last week. Got target Y+2 and above. Closed the week above Y+2 and at week high.
Outlook
No surprise with the short term bottom. ...
Nasdaq 100 Sep 08 to Sep 12 Outlook
Lawrence’s Comment
NQ lifted higher first right off the open, that limited the expected drop to Y-1 by magnitude as mentioned last week. Anyway multiple attempts to clear Y+2 failed and led to a drop back down to Y-1. Found support there and bounced. Closed the week above Y+1 and midpoint.
Outlook
Outside week, strong close. Weekly up trend intact and only sign of weaknesses is the picking up of volatility. A retest of B+1 is in the making as long as B-0 acts as support. Failing to hold B-0 could be the start of a down channel with Y-2 first target.
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