Recap NQ gap and go right from the start of the week to clear the strong resistance of Y-0 and filled the open gap above. This led to retest of Y+1 and eventual breakout to Y+2 and above. Closed the week above Y+2 and near week high.
Outlook Blow off run in the making, can mean slow drift up further until Y+3 normal surprise breakout target. B+1 turning into resistance will give us a pullback to at least filling the open gap below.
Election done. Fed meeting results next. Tight range in OR implies a more explosive afternoon in the making. Not going to waste time watch the market until after fireworks started ...
Nasdaq 100 Apr 27 to May 01 Outlook
Lawrence’s Comment
NQ gap and go right from the start of the week to clear the strong resistance of Y-0 and filled the open gap above. This led to retest of Y+1 and eventual breakout to Y+2 and above. Closed the week above Y+2 and near week high.
Outlook
Blow off run in the making, can mean slow drift up further until Y+3 normal surprise breakout target. B+1 turning into resistance will give us a pullback to at least filling the open gap below.
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