Recap Broken Y-0 right at the beginning of the week, tagged target Y-1 quickly. Bounced back to Y-0 where it acted as resistance, pointing to 50% downside expansion as target (Y-2). Tagged that as well later in the week and closed below Y-1.
Outlook Downtrend established but first order of things is testing the gap zone upto B-0. As long as B-0 upto Y-0 acts as resistance, B-1 will be revisited later in the week.
End-of-day update: SPY reacted to the resistance zone and closed bearishly. Yet, the war is not over until Friday close. The down channel is adjusted off the high print ...
Lawrence's Comment
Recap
Sold off as expected. But unlike Aussie, Loonie snapped out of the selling with a sharp bounce back up to its weekly midpoint.
Outlook
As Y-1 and B-0 acted as ...
Nasdaq 100 Mar 14 to Mar 18 Outlook
Lawrence’s Comment
Broken Y-0 right at the beginning of the week, tagged target Y-1 quickly. Bounced back to Y-0 where it acted as resistance, pointing to 50% downside expansion as target (Y-2). Tagged that as well later in the week and closed below Y-1.
Outlook
Downtrend established but first order of things is testing the gap zone upto B-0. As long as B-0 upto Y-0 acts as resistance, B-1 will be revisited later in the week.
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