Recap As expected NQ is not as bearish as it looked. The weaknesses from the week before last disappeared at the start of past week. That turned the Y-1 low into FBO and putting Y+1 in play. We got Y+1 and more in just 2 days. NQ did try to hold above Y+1 as if it was having a true breakout but news caught up with reality. That in turn putting the other extreme Y-1 in play. Trickly Y-1 was almost tagged overnight Thursday and bounced from there. Closed the week at Y-0 and below midpoint.
Outlook A close near the midpoint of the month so far on option expiration, how uninteresting that is.
Coming week should be tight range with up drift bias as long as there is no news shock entering the scene.
Nasdaq 100 Dec 24 to Dec 28 Outlook
Lawrence’s Comment
As expected NQ is not as bearish as it looked. The weaknesses from the week before last disappeared at the start of past week. That turned the Y-1 low into FBO and putting Y+1 in play. We got Y+1 and more in just 2 days. NQ did try to hold above Y+1 as if it was having a true breakout but news caught up with reality. That in turn putting the other extreme Y-1 in play. Trickly Y-1 was almost tagged overnight Thursday and bounced from there. Closed the week at Y-0 and below midpoint.
Outlook
A close near the midpoint of the month so far on option expiration, how uninteresting that is.
Coming week should be tight range with up drift bias as long as there is no news shock entering the scene.
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