Recap Another easy play last week was NQ. Flushed to below Y-2 until 100% range expansion. Bounced back up to week high and found resistance there. Enough dip buyers fried by Y-1 to Y-3 breakout play. Forced reversal from dirty bottom mid week could not breach B-0 from below. One last flush back down to end the week. Closed the week near Y-3 and below midpoint.
Outlook Exciting time for daytraders but not so much for end of day traders.
Critical price level here for NQ. If it can hold this zone on weekly basis, it can lead to a strong daily level rally back up to challenge the year high.
Since downtrend is already in place, it is not a good idea to pick bottom on swing basis. NQ trading above B-0 (3600) and turning that into support is necessary for the bullish case to stand a chance.
Lawrence's Comment
Recap
Swing violently as expected. The unexpected part was that it is to the downside only. Final flush tagged Y-4 and bounced. Closed the week below Y-3.
Outlook
Consolidation likely. ...
Lawrence's Comment
Recap
A higher high and higher low on weekly finally formed.
Outlook
As long as Y-1 acts as support, we have a confirmed long term bottom for the pair in ...
Nasdaq 100 Mar 31 to Apr 04 Outlook
Lawrence’s Comment
Another easy play last week was NQ. Flushed to below Y-2 until 100% range expansion. Bounced back up to week high and found resistance there. Enough dip buyers fried by Y-1 to Y-3 breakout play. Forced reversal from dirty bottom mid week could not breach B-0 from below. One last flush back down to end the week. Closed the week near Y-3 and below midpoint.
Outlook
Exciting time for daytraders but not so much for end of day traders.
Critical price level here for NQ. If it can hold this zone on weekly basis, it can lead to a strong daily level rally back up to challenge the year high.
Since downtrend is already in place, it is not a good idea to pick bottom on swing basis. NQ trading above B-0 (3600) and turning that into support is necessary for the bullish case to stand a chance.
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