Recap NQ started the week above Y+1 invalidated its down trend, making Y-0 strong support. NQ then failed to hold above Y+1 and flushed down to support. NQ held the support zone and bounced. Closed the week above Y-0 and midpoint.
Outlook Those who do not look at the weekly and daily timeframe last week were very confused as they do not realize NQ was trying hard to break its down trend.
Now that its down trend is broken, it has to fight for enough momentum to go back up. A weak rally coming 2 weeks will spell trouble for NQ.
NQ needs to hold above Y-0 to stand a chance for a run to B+2.
Lawrence's Comment
Recap
Consolidation play around Y-1 then wild swings due to news shocks later in the week. Closed the week below Y-0 and near week high.
Outlook
Cable anchored itself to ...
Lawrence's Comment
Recap
Dow pushed higher as expected. NFP week pattern played out nicely. Closed the week above Y+1 and near week high.
Outlook
NFP week is over so a surprise take ...
Nasdaq 100 May 19 to May 23 Outlook
Lawrence’s Comment
NQ started the week above Y+1 invalidated its down trend, making Y-0 strong support. NQ then failed to hold above Y+1 and flushed down to support. NQ held the support zone and bounced. Closed the week above Y-0 and midpoint.
Outlook
Those who do not look at the weekly and daily timeframe last week were very confused as they do not realize NQ was trying hard to break its down trend.
Now that its down trend is broken, it has to fight for enough momentum to go back up. A weak rally coming 2 weeks will spell trouble for NQ.
NQ needs to hold above Y-0 to stand a chance for a run to B+2.
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