Recap NQ resistance at Y-1 sent it down to right above Y-3 when 100% absolute range expansion was reached. NQ then staged a bottom right on time for a run back up to above 3800 round number for option expiration. Closed the week below Y-1 and near midpoint.
Outlook As long as B-0 acting as support, NQ can force a run up to at least B+1. But it is not a bullish setup because until backfill down to B-1 is done, there is really no fuel for NQ to go higher.
If NQ dropped to B-1 first and found support, it may start to form a longer term bottom on weekly level.
Lawrence's Comment
Recap
Pulled back to resistance area and sold off again to restest Y-1. Then failed to push above the midpoint of the week at that time and resulted ...
Lawrence's Comment
Recap
Option expiration week played out perfectly to mess with everyone who forgets about it since last month. Initial attempt to blast higher from Y+1 failed leading to first flush ...
Nasdaq 100 Oct 20 to Oct 24 Outlook
Lawrence’s Comment
NQ resistance at Y-1 sent it down to right above Y-3 when 100% absolute range expansion was reached. NQ then staged a bottom right on time for a run back up to above 3800 round number for option expiration. Closed the week below Y-1 and near midpoint.
Outlook
As long as B-0 acting as support, NQ can force a run up to at least B+1. But it is not a bullish setup because until backfill down to B-1 is done, there is really no fuel for NQ to go higher.
If NQ dropped to B-1 first and found support, it may start to form a longer term bottom on weekly level.
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