Nasdaq 100 Jan 14 to Jan 18 Outlook

Recap
Gapped lower right off opening of the week and flushed down to test the gap below after failure to break above previous week close. Shorts are squeezed after the gap was rejected a 2nd time. Drifted higher since to test Y+1. Closed the week near week high and below Y+1.

Outlook
As long as Y+1 stays as the resistance, it is more likely we get a flush back down to close the gap below Y-0.

There is a catch – NQ is weakest among the 3 major indices for now. It can be dragged up to clear Y+1 if Dow or ES breakout to the upside early next week. I am not that bullish but this rare scenario can happen as we witnessed that last year.