Recap The only index that acted in normal fashion. Pulled back to our target zone as expected and then Fed announcement was right on time to send NQ for a measured moved higher. Closed the week above Y+1.
Outlook Very healthy pullback to old year high zone and then going higher. No complain about that at all. MM move higher looks normal too.
Many readers probably do not remember what happened back in the dotcom bubble era. It was not a v-shape selloff from the peak. There were multiple pushes up with very wild swings in between. One of those swing lows is now in sight for NQ. This 2860-2900 area if proven to be strong resistance, a drop of 100+ points in NQ is expected.
Lawrence's Comment
Recap
NQ did flushed and snap back up in the beginning of the week without tagging Y-2 but failed to clear week high on Wednesday thanks to various big firms ...
Lawrence's Comment
Recap
ES opened above Y-0 gave us the necessary excuse to challenge Y+2 as mentioned last week. Y+2 tagged leading to a pullback to previous resistance. A blowoff top late ...
Lawrence's Comment
Recap
Consolidated around Y+1. Less than 50% range of week prior to last. Closed the week below Y+1 and midpoint.
Outlook
ES is weaker than NQ. It is structurally much weaker ...
Nasdaq 100 Sep 17 to Sep 21 Outlook
Lawrence’s Comment
The only index that acted in normal fashion. Pulled back to our target zone as expected and then Fed announcement was right on time to send NQ for a measured moved higher. Closed the week above Y+1.
Outlook
Very healthy pullback to old year high zone and then going higher. No complain about that at all. MM move higher looks normal too.
Many readers probably do not remember what happened back in the dotcom bubble era. It was not a v-shape selloff from the peak. There were multiple pushes up with very wild swings in between. One of those swing lows is now in sight for NQ. This 2860-2900 area if proven to be strong resistance, a drop of 100+ points in NQ is expected.
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