Recap Breached Y-1 to the downside as expected. News shock after sent shorts scrambling to cover. 100% range expansion and stalled. Held Y-0 as support. Closed the week near week high.
Outlook Early next week if B+1 / Y+1 turned into resistance will send NQ back down to B-0 quickly. And it is not necessarily the start of a downtrend.
Lawrence's Comment
Recap
Tagged Y+2 as expected. Better yet, made a 1-2-3 sell off that zone implying Y+1 and Y-0 was in play and both were tagged quickly thus opening the ...
Nasdaq 100 Jun 11 to Jun 15 Outlook
Lawrence’s Comment
Breached Y-1 to the downside as expected. News shock after sent shorts scrambling to cover. 100% range expansion and stalled. Held Y-0 as support. Closed the week near week high.
Outlook
Early next week if B+1 / Y+1 turned into resistance will send NQ back down to B-0 quickly. And it is not necessarily the start of a downtrend.
Otherwise, looking for a drift up to above B+1.
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