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.
Lawrence's Comment
Recap
Dow consolidated around Y-0 until FOMC announcement. After announcement Dow rushed to 100% absolute range expansion target and stalled from there. Closed the week above Y-0 and near midpoint.
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Lawrence's Comment
Recap
NQ dropped in sync with Dow and S&P.
Outlook
See comments on Dow.
This week due to the S&P downgrade, potential Fed and G8 inventions will throw all markets into ...
Nasdaq 100 Dec 30 to Jan 03 Outlook
Lawrence’s Comment
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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