Recap Consolidation actions as expected. Rally towards end of week was mainly a stop hunt. Sold off by end of the week due to news shock regarding conflict in Ukraine. Closed the week above Y+1 and midpoint.
Outlook No strong bias for either direction. Closing near open of the week points to indecision. B-1 is now very important support. Once it is breached a flush back down to B-3 is likely.
Busy with office matters this morning ... seems like I missed a good move. S&P holding green (i.e. net positive) but momentum leader NDX is red (i.e. net negative ...
Nasdaq 100 Mar 03 to Mar 07 Outlook
Lawrence’s Comment
Consolidation actions as expected. Rally towards end of week was mainly a stop hunt. Sold off by end of the week due to news shock regarding conflict in Ukraine. Closed the week above Y+1 and midpoint.
Outlook
No strong bias for either direction. Closing near open of the week points to indecision. B-1 is now very important support. Once it is breached a flush back down to B-3 is likely.
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