Recap Feb close acted as resistance and selloff to fill gap below. That was the play mentioned last week. But it was all we got from the formation. 1-2-3 buy off the gap bottom points to a retest of week high and we got that as well. Friday struggled at Y+1 and sold off back down to week midpoint and closed the week above midpoint.
Outlook If at the start of the week we get a selloff breaking B-0, then B-1 is very likely.
The more interesting scenario, however, is that a rally taking out B+1 quickly and close the gap above. As long as B+1 acts as support B+2 is the target.
Lawrence's Comment
Recap
Cannot clear previous week close and led to all out selloff down to Y-3 target. Bounced from Y-3 and tested Y-1 from below. Closed the week below Y-1 and ...
Lawrence's Comment
Recap
Consolidation around previous week close. Found resistance from Y+1 / week mid later in the week. Closed the week above Y-0 and below midpoint.
Outlook
Potential spike and ledge in place. ...
Nasdaq 100 Mar 07 to Mar 11 Outlook
Lawrence’s Comment
Feb close acted as resistance and selloff to fill gap below. That was the play mentioned last week. But it was all we got from the formation. 1-2-3 buy off the gap bottom points to a retest of week high and we got that as well. Friday struggled at Y+1 and sold off back down to week midpoint and closed the week above midpoint.
Outlook
If at the start of the week we get a selloff breaking B-0, then B-1 is very likely.
The more interesting scenario, however, is that a rally taking out B+1 quickly and close the gap above. As long as B+1 acts as support B+2 is the target.
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