Recap Zoomed higher to Y+2 and consolided since. Later in the week, drifted higher and eventually breakout to the upside. Closed the week at week high and above Y+3.
Outlook Out of the 3 indices, NQ has been behaving quite normally for option expiration as we have seen 2 ways swings at least until Thursday. The close at extreme for op ex often happens when majority of the market participants are betting on the wrong side.
NQ in a thin up channel all the way for 2 weeks. It cannot last and the likely result is a break of the channel pattern and move back to the start of the channel which stands at Y-1 / the upper boundary of the huge gap below.
Pivot Point in day trading refers to the average of the previous session’s high, low and close. A set of other price levels are derived from the pivot point as ...
Lawrence's Comment
Recap
Tried to hold above Y+1 but failed. Pullback to support zone and failed to clear Y+1 since led to another drop to Y-0 and below. Closed the week near ...
Lawrence's Comment
Recap
Easiest play of the week. As expected, any pullback is a buy until Y+2 is tagged. And the last of week melt up tagged both Y+2 and Y+3 ...
Nasdaq 100 May 20 to May 24 Outlook
Lawrence’s Comment
Zoomed higher to Y+2 and consolided since. Later in the week, drifted higher and eventually breakout to the upside. Closed the week at week high and above Y+3.
Outlook
Out of the 3 indices, NQ has been behaving quite normally for option expiration as we have seen 2 ways swings at least until Thursday. The close at extreme for op ex often happens when majority of the market participants are betting on the wrong side.
NQ in a thin up channel all the way for 2 weeks. It cannot last and the likely result is a break of the channel pattern and move back to the start of the channel which stands at Y-1 / the upper boundary of the huge gap below.
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