Recap 3800 resistance mentioned last week produced a mild pullback late in the week. Bounced from Y-0 after it was tested. Closed the week above Y-0 and below midpoint.
Outlook Unlike Dow or S&P, NQ experienced only a mild pullback and its up trend is not affect on weekly or daily basis.
This implies that until we get something more serious, NQ can put a brake on the selloff in Dow and ES quickly and end the pullback.
One of those things that can break the NQ is coming next week – FOMC Meeting.
Lawrence's Comment
Recap
Y-1 support zone spike test gave us a run back to Y-0. Instead of a clean test, we got a stair step / bear flag like action testing Y-0 ...
Nasdaq 100 Jun 16 to Jun 20 Outlook
Lawrence’s Comment
3800 resistance mentioned last week produced a mild pullback late in the week. Bounced from Y-0 after it was tested. Closed the week above Y-0 and below midpoint.
Outlook
Unlike Dow or S&P, NQ experienced only a mild pullback and its up trend is not affect on weekly or daily basis.
This implies that until we get something more serious, NQ can put a brake on the selloff in Dow and ES quickly and end the pullback.
One of those things that can break the NQ is coming next week – FOMC Meeting.
Share