Recap NQ flushed to Y-2 in the beginning of the week and bounced off. Similar to Dow, its test of Y-0 failed to push higher and opened the door to retest Y-2. NQ flushed through Y-2 and tagged Y-3 before it could find a bottom. Intervention produced a very strong squeeze landing NQ above its multiple weeks resistance line. Closed the week above Y-1 and midpoint.
Outlook NQ is strongest in its overall reversal as it also cleared its multiple week resistance. As long as NQ can zoom higher quickly early this week, next upside targets are B+1 and Y+1.
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Lawrence's Comment
Recap
FBO against Y-1 gave us Y-0 test. Y-0 could not stop cable from going higher and turned into stop run. Cable essentially moved back to the crime scene where ...
Nasdaq 100 Jun 10 to Jun 14 Outlook
Lawrence’s Comment
NQ flushed to Y-2 in the beginning of the week and bounced off. Similar to Dow, its test of Y-0 failed to push higher and opened the door to retest Y-2. NQ flushed through Y-2 and tagged Y-3 before it could find a bottom. Intervention produced a very strong squeeze landing NQ above its multiple weeks resistance line. Closed the week above Y-1 and midpoint.
Outlook
NQ is strongest in its overall reversal as it also cleared its multiple week resistance. As long as NQ can zoom higher quickly early this week, next upside targets are B+1 and Y+1.
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