Nasdaq 100 Dec 30 to Jan 03 Outlook

By News Robot

Lawrence’s Comment

Recap
NQ gapped higher to start the week. Clearing the resistance right off the start gave it a bullish bias to push higher. Lack of volume reduced the volatility. Closed the week above Y+1 and near midpoint.

Outlook
Tight range week, no volume and left a rare open gap on weekly. This is bearish and implies a pullback to Y+1 is likely within a week or two. Since it is year end next week, I suspect that the pullback will be delayed to the one right after.

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