Recap Spike and ledge continues. NQ stopped stone cold at the ledge top in first half of the week and then dropped to test the ledge bottom Y-1 and bounced. Closed the week at midpoint.
Outlook Last week is also month end. Locking the close at midpoint of the week is very common. So no new clues for us this past week.
Spike and ledge pattern still in force and is actually stronger as the ledge has extended for a week.
A break of B-1 (spike and ledge breakdown) points to B-3 as 1st target.
Lawrence's Comment
Recap
NQ was the strong one and its bullish bias to tag Y+1 was fulfilled in the beginning of the week. From there we got an unusual consolidation around the ...
Lawrence's Comment
Recap
Y-1 breached early in the week points to a drop to Y-2 and below in the making. Sold off until Y-2 / 1.20 round number level attracted buyers. Bounced ...
Nasdaq 100 Sep 03 to Sep 07 Outlook
Lawrence’s Comment
Spike and ledge continues. NQ stopped stone cold at the ledge top in first half of the week and then dropped to test the ledge bottom Y-1 and bounced. Closed the week at midpoint.
Outlook
Last week is also month end. Locking the close at midpoint of the week is very common. So no new clues for us this past week.
Spike and ledge pattern still in force and is actually stronger as the ledge has extended for a week.
A break of B-1 (spike and ledge breakdown) points to B-3 as 1st target.
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