Nasdaq 100 Apr 14 to Apr 18 Outlook
First half of the week showing signs of reduced range and consolidation behaviour. Then the spike up to challenge Y-0 failed, led to all out melt down. NQ could not find support until Y-2 was reached due to the dip buyers being trapped. Closed the week below Y-2 and near week low.
NQ has no real support below the current price level until another 100 points below. If bulls want to see current year high later this year, they need to support the current level and force a bottom here.
A flush low in the beginning of the week followed by spike reversal back above Y-2 points to a run back up to B-0.
It is possible to get a melt down to B-2 quickly Monday should massive stop run is induced.