Nasdaq 100 Feb 04 to Feb 08 Outlook

Recap
The chance to even test Y-1 was not there. NQ simply rejected Y-1 and zoomed back above Y-0. That paved way to Y+1 within the week. Continued to struggle below Y-0 until Friday where S&P and Dow zoomed higher and dragged NQ higher. Closed the week near week high and Y+1.

Outlook
4th week in a row with this recurring rejection of previous week low pattern. Weekly timeframe rising wedge / bear flag in place. A breakout of this pattern, however, is untradable by most traders due to the size of the range covered.

Breakout above B+1 early next week will zoom NQ to B+2 in no time. That is the result of trapped bears over 4 weeks time span being purged.

Will be difficult to trade NQ on swing basis until it moves out of this zone.