Nasdaq 100 Jul 16 to Jul 20 Outlook

By News Robot

Lawrence’s Comment

Recap
Failed to push thru Y-0 early in the week and a landslide started. Y-2 failed to act as support and forced a flush below Y-3. Rally from the bottom was magnified by news shock forcing NQ to push back up to Y-0 and above midpoint.

Outlook
Unlike Dow, NQ is not as strong in both swing pattern and STOPD level. It is painting a more bearish picture.

If NQ cannot push above Y-1, or that NQ drops below B-0 and that turning into resistance, a retest of B-1 is likely.

Difficult week to trade even for daytrading.

Share

  • You must be logged in to comment. Log in