Recap NQ followed the seasonal selloff script to the T. Y-3 acted as support twice before being breached on the 3rd try. Closed the week below Y-3 and at week low.
Outlook The backfill is necessary as NQ has been rallying for months with no support zone built anywhere below. This selloff helps NQ to correct some of its short term breadth overbought conditions. Seasonally the stock market will now enter holiday mode with minimal volume which favours the bulls.
Lawrence's Comment
Recap
Y+1 / previous week close resistance dropped Dow back down to Y-0. Dow bounced off Y-0 to fill the gap above and stalled. After NFP Dow dropped to Y-0 ...
I have been asked about the advantages of day trading the Emini S&P (and the other Eminis) over day trading stocks many times. Many people are familiar with concepts related ...
Nasdaq 100 Dec 15 to Dec 19 Outlook
Lawrence’s Comment
NQ followed the seasonal selloff script to the T. Y-3 acted as support twice before being breached on the 3rd try. Closed the week below Y-3 and at week low.
Outlook
The backfill is necessary as NQ has been rallying for months with no support zone built anywhere below. This selloff helps NQ to correct some of its short term breadth overbought conditions. Seasonally the stock market will now enter holiday mode with minimal volume which favours the bulls.
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