Recap Gapped way higher right at the start of the week. Then collapsed back down to fill the gap. NQ found support there and started a short squeeze filling the gap above. NQ drifted higher a bit and then collapsed after NFP report was out. Magically it rallied back up to take out Y+1. Closed the week below Y+1 and above midpoint.
Outlook If NQ fails to hold B-0 anytime these coming 2 weeks, a very powerful topping pattern will be in place. It does not matter how high NQ will go. All that matters is that NQ must find support at B-0 and above.
Once the topping pattern is in place, B-3 is the minimal target.
Lawrence's Comment
Recap
Channel support breached gave us Y-1 as expected. Wild up swing testing the channel support from below failed to clear the resistance and sent Aussie down to Y-1 again. ...
Lawrence's Comment
Recap
Easy play of the week. Stopped at resistance mentioned last week and flushed down to Y-2 1st target below. Closed the week below Y-1 and near midpoint.
Outlook
As long as ...
Nasdaq 100 Sep 09 to Sep 13 Outlook
Lawrence’s Comment
Gapped way higher right at the start of the week. Then collapsed back down to fill the gap. NQ found support there and started a short squeeze filling the gap above. NQ drifted higher a bit and then collapsed after NFP report was out. Magically it rallied back up to take out Y+1. Closed the week below Y+1 and above midpoint.
Outlook
If NQ fails to hold B-0 anytime these coming 2 weeks, a very powerful topping pattern will be in place. It does not matter how high NQ will go. All that matters is that NQ must find support at B-0 and above.
Once the topping pattern is in place, B-3 is the minimal target.
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