Recap NQ consolidated around its previous week close and then took off to test Y+1 from below. Clean break out above Y+1 points to strength and NQ drifted higher since as Dow and S&P dragged it higher. Closed the week above Y+1 and midpoint.
Outlook NQ is the weakest among the 3 major indices. Potential FBO ledge top in the making if NQ fails to hold above 4300 with target back down at B-1 and below.
Lawrence's Comment
Recap
As mentioned last week, Dow is in breakout mode and that failing to break out of this range at one extreme will simply follow the STOPD principle ...
Nasdaq 100 Mar 07 to Mar 11 Outlook
Lawrence’s Comment
NQ consolidated around its previous week close and then took off to test Y+1 from below. Clean break out above Y+1 points to strength and NQ drifted higher since as Dow and S&P dragged it higher. Closed the week above Y+1 and midpoint.
Outlook
NQ is the weakest among the 3 major indices. Potential FBO ledge top in the making if NQ fails to hold above 4300 with target back down at B-1 and below.
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