Nasdaq 100 Apr 08 to Apr 12 Outlook

By News Robot

Lawrence’s Comment

Recap
Got the sell setup mentioned last week and NQ did a 200% range expansion of previous week range. Closed the week below Y-1 and midpoint.

Outlook
NQ long term sell setup in place. The weekly and monthly structure is finally damaged. From this point onward, NQ can move back up on short squeeze, rumors, whatever. It will still fall back down significantly. NQ essentially just duplicated the Nikkei counter-trend top.

This week, NQ can rally back to B-0 off the squeeze we got from last week. If B-0 acts as resistance, we get a sell off back down to Y-2 area for a potential attempt to form a higher low.

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