Recap The bounce to Y-0 scenario unfolded exactly as described last week. The wait and see part at Y-0 turns into the bearish setup of trading below Y-1, pointing to a move towards Y-2. Tagged Y-2 and bounced off.
Outlook Breaking above B-0 means a quick rally towards B+1.
Unlike Dow, Nasdaq has not broken its down trend formation yet.
Lawrence's Comment
Recap
As mentioned last week, looking for a rally to 1300 and we got that, plus a lot more. 1300 turned into support and helped to send ES ...
Nasdaq 100 Jun 20 to Jun 24 Outlook
Lawrence’s Comment
The bounce to Y-0 scenario unfolded exactly as described last week. The wait and see part at Y-0 turns into the bearish setup of trading below Y-1, pointing to a move towards Y-2. Tagged Y-2 and bounced off.
Outlook
Breaking above B-0 means a quick rally towards B+1.
Unlike Dow, Nasdaq has not broken its down trend formation yet.
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