Nasdaq 100 May 20 to May 24 Outlook

By News Robot

Lawrence’s Comment

Recap
Zoomed higher to Y+2 and consolided since. Later in the week, drifted higher and eventually breakout to the upside. Closed the week at week high and above Y+3.

Outlook
Out of the 3 indices, NQ has been behaving quite normally for option expiration as we have seen 2 ways swings at least until Thursday. The close at extreme for op ex often happens when majority of the market participants are betting on the wrong side.

NQ in a thin up channel all the way for 2 weeks. It cannot last and the likely result is a break of the channel pattern and move back to the start of the channel which stands at Y-1 / the upper boundary of the huge gap below.

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