Recap 100% range expansion downside out of the daily consolidation area. Then went all the way back up to challenge Y-1 and failed. Finally closed the week at 2350 option expiration target mentioned last week.
Outlook After option market makers finished their business, the force to pin NQ at 2350 is gone. NQ will likely zoom to either B+1 or B-1 quickly thus it is not a good idea to counter the move somewhere in between once the ball is rolling. The reactions at these 2 price levels will tell us what to do by then.
Lawrence's Comment
Recap
Instead of a quite week, we got Japanese officials who refused to shutup. That guaranteed the flush to new low for us when ninja failed to clear the pre-breakdown ...
Lawrence's Comment
Recap
Reaction at Y+1 gave us the setup for a 1-2-3 long breakout upside setup. Normal breakout target of Y+3 was reached. euro pullback to Y+2 but failed to hold ...
Nasdaq 100 May 23 to May 27 Outlook
Lawrence’s Comment
100% range expansion downside out of the daily consolidation area. Then went all the way back up to challenge Y-1 and failed. Finally closed the week at 2350 option expiration target mentioned last week.
Outlook
After option market makers finished their business, the force to pin NQ at 2350 is gone. NQ will likely zoom to either B+1 or B-1 quickly thus it is not a good idea to counter the move somewhere in between once the ball is rolling.
The reactions at these 2 price levels will tell us what to do by then.
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