Recap Pullback to B-0 as expected. Basing action as well. Closed the week at Y+1 / midpoint.
Outlook Not clear at all. The basing action can be viewed as a setup for retesting B+1. But the way the sell off happened potential spike and ledge top in the making.
Will be very interested in holding onto short if B-1 is breached.
Lawrence's Comment
Recap
The bounce to Y-0 scenario unfolded exactly as described last week. The wait and see part at Y-0 turns into the bearish setup of trading below Y-1, pointing ...
Nasdaq 100 Aug 27 to Aug 31 Outlook
Lawrence’s Comment
Pullback to B-0 as expected. Basing action as well. Closed the week at Y+1 / midpoint.
Outlook
Not clear at all. The basing action can be viewed as a setup for retesting B+1. But the way the sell off happened potential spike and ledge top in the making.
Will be very interested in holding onto short if B-1 is breached.
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