Nasdaq 100 Sep 26 to Sep 30 Outlook

By News Robot

Lawrence’s Comment

Recap
As oppose to holding above support level, NQ sold off in the beginning of the week to right underneath the level, creating a w. upthrust against Y+1. That points to a selloff towards the target Y-0. NQ gapped down thru the initial target and almost tagged Y-1 which is the 2nd target area before a bounce happened.

Outlook
A retest of B-1 is likely.

The tricky part is that the gap above is big that the resistance area is not just Y-0 upto B-0 only, but the complete gap zone. That makes it difficult for daytraders to engage in this potential continuation trade.

The easier way to engage with this trade is to wait for a gap up or rally above Friday close to fail and stall first, that will establish a smaller timeframe down trend with tighten risk control.

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