Nasdaq 100 Oct 05 to Oct 09 Outlook

By News Robot

Lawrence’s Comment

Recap
Couldn’t form a low early in the week above 4100 led to the expected stop hunt mentioned last week. Since then NQ gapped back up above 4100 and fought its way back up to challenge Y-1. NFP gave NQ the fuel needed to clear Y-1 and rushed back up to the crime scene. Closed the week below Y-0 and at week high.

Outlook
Very strong reversal formation in place on intraday basis but not on daily level. This means the run will be carried higher this week but may not be able to last. Above 4320 open gap zone if distribution is seen, we will get a drop back down to B-0 easily in coming weeks.

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