Recap Flushed in afterhours and Y-1 turned into support by the time market opens in regular hours. NQ bottomed out from there and rallied to close the week near its high of the range.
Outlook Inside week after 2 huge range weeks is not unexpected. The difficult question is where do we go from here.
Within 50 points above B+1 there are so many resistance price levels it is difficult to ride the long side.
Next week is also the week before a long weekend and last week of summer holiday for schools. Expect lower volume and potentially 2nd week of inside week.
Lawrence's Comment
Recap
NQ weaknesses let to quick break of Y-0. Since then NQ cannot clear 4700 and dropped to Y-1. When trouble in Asia spread to US, NQ break down to ...
Lawrence's Comment
Recap
Tested one side of the tight range (bottom) and failed to go lower. Then tagged the other side of the tight range (top) and failed to go ...
Lawrence's Comment
Recap
Previous week close acted as support all week making the consolidation higher than usual. Closed the week above Y+1 and midpoint.
Outlook
An up channel has developed. A break above B+1 ...
Nasdaq 100 Aug 29 to Sep 02 Outlook
Lawrence’s Comment
Flushed in afterhours and Y-1 turned into support by the time market opens in regular hours. NQ bottomed out from there and rallied to close the week near its high of the range.
Outlook
Inside week after 2 huge range weeks is not unexpected. The difficult question is where do we go from here.
Within 50 points above B+1 there are so many resistance price levels it is difficult to ride the long side.
Next week is also the week before a long weekend and last week of summer holiday for schools. Expect lower volume and potentially 2nd week of inside week.
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