Recap Very nice rally off the support zone mentioned last week. Rally until 100% absolute range expansion completed. Y+2 rejected leading to a drop back down to Y+1. Closed the week above Y+1 and midpoint.
Outlook Completely different from Dow, NQ has been holding onto its bullish up trend on weekly. This gives bulls an advantage in containing the potential selloff / correction during the seasonally volatile period.
A decisive break of B-1 will lead to a strong pullback on weekly back down to B-3.
Advance / Decline Issues Bear Strike is a day trading model based on real-time advance / decline issues. It is a very consistent mechanical trading model and a useful trading ...
Lawrence's Comment
Recap
Bounced back up to Y-0 and found resistance. Sold off down to Y-2 as expected. Closed the week below Y-1 and midpoint.
Outlook
Strong support / downside target Y-3 ...
Nasdaq 100 Jul 28 to Aug 01 Outlook
Lawrence’s Comment
Very nice rally off the support zone mentioned last week. Rally until 100% absolute range expansion completed. Y+2 rejected leading to a drop back down to Y+1. Closed the week above Y+1 and midpoint.
Outlook
Completely different from Dow, NQ has been holding onto its bullish up trend on weekly. This gives bulls an advantage in containing the potential selloff / correction during the seasonally volatile period.
A decisive break of B-1 will lead to a strong pullback on weekly back down to B-3.
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