Nasdaq 100 Jun 23 to Jun 27 Outlook

Recap
NQ went sideway with 3 pushes up in the beginning of the week. Before FOMC it started its normal move following 3 pushes up targeting week low and Y-1. Then FOMC announcement put a stop to the drop and reversed the course. NQ popped higher but not much more comparing to Dow and ES. Closed the week above Y-0 and midpoint.

Outlook
NQ has been behaving quite normally comparing to ES or Dow in terms of price actions and reactions to weekly levels. NQ holding Y-1 is not a surprise as indicated last week that it is the one with its weekly up trend intact.

The test of Y+1 is not the usual kind. It lacks strength or commitment. It is rare NQ displays such indecision. We are getting to the point where some bulls are having doubt in this rally now.

Failure to clear Y+1 / B+1 implies a pullback to B-0 and likely a breakdown back to Y-1 and B-2.

Breakout above Y+1, a quick run to B+3 should not be a problem.