Recap NQ Y+1 did not act as resistance, and rallied 50% of previous week range and paused. After the Fed + JPM shock, NQ is propelled to Y+3 and completed the 100% upside range expansion target. Closed near the week high and Y+3.
Outlook Consolidation to higher. Not all shorts have accepted defeat and not all shorts are monitoring the market in real-time. That will be potential fuel for NQ to run to the monthly target of 2750 if we do not get a significant pullback this week.
Only if B-0 is breached would a stronger pullback be possible.
Nasdaq 100 Mar 19 to Mar 23 Outlook
Lawrence’s Comment
NQ Y+1 did not act as resistance, and rallied 50% of previous week range and paused. After the Fed + JPM shock, NQ is propelled to Y+3 and completed the 100% upside range expansion target. Closed near the week high and Y+3.
Outlook
Consolidation to higher. Not all shorts have accepted defeat and not all shorts are monitoring the market in real-time. That will be potential fuel for NQ to run to the monthly target of 2750 if we do not get a significant pullback this week.
Only if B-0 is breached would a stronger pullback be possible.
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