Nasdaq 100 Oct 12 to Oct 16 Outlook
NQ gapped above Y+1 and filled the open gap above early in the week. Since then NQ struggled to go higher but holding onto its support at Y+1. End of week rally carried NQ to its normal upside target of Y+2. Closed the week near Y+2 and week high.
As explained last week, NQ is not the strong one in terms of overall formation comparing to Dow or ES. FBO against Y+2 or simplyfailing to hold above B-0 will create a bearish ledge breakout failure formation with downside target of B-2.