Recap Monday weak close and then gapped down to open gap below. Bounced off at once. Y-0 support led to a squeeze back up to Y+1. Closed the week above Y-0 and midpoint.
Outlook Weakest of the 3 major indices. Rising wedge like formation. B+1 resistance can send this back down to B-0 / Y-0 again.
Lawrence's Comment
Recap
Similar to NQ, ES got slammed down from its upside breakout, causing the breakout longs and pullback longs to liquidate their positions in a panic. Ended the week ...
Nasdaq 100 May 18 to May 22 Outlook
Lawrence’s Comment
Monday weak close and then gapped down to open gap below. Bounced off at once. Y-0 support led to a squeeze back up to Y+1. Closed the week above Y-0 and midpoint.
Outlook
Weakest of the 3 major indices. Rising wedge like formation. B+1 resistance can send this back down to B-0 / Y-0 again.
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