Nasdaq 100 Feb 28 to Mar 04 Outlook
Mentioned last week, a potential turning point is in place and we got that. Talking about precision in timing! As it is a weekly level turning point, monthly STOPD levels are now triggered and in play.
The close of the month will be the most important resistance zone to watch. Thus Monday is not the best environment to trade because end of month window dressing forces vs. smart investors taking the opportunity to light up on stock exposures will mess up the intraday swings badly.
Once the Feb close is established, then hourly sell formation off the price level will point to a minimum of the gap below to be filled, and more likely range expansion to the downside to retest Feb month low.