Nasdaq 100 Apr 15 to Apr 19 Outlook

By News Robot

Lawrence’s Comment

Recap
Y-0 did not act as resistance at all. All out intervention last week to clear the resistance zone induced the biggest 5 days up swing over the past few years. Closed the week above Y+1 and near week high.

Outlook
As noted in my post on Nasdaq Composite, this is the anti-climax on Nasdaq that resemble what happened to the crash in Nikkei many years ago. Should this proven to be the cyclical top, The top produced in this year will not be exceeded for many years to come.

This week will be a difficult week to trade as many shorts are forced to cover their short positions last week. Expect erratic price movements and consolidation around B+1.

Share

  • You must be logged in to comment. Log in