Trading Edges That Last
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Nasdaq 100 Nov 23 to Nov 27 Outlook
Lawrence’s Comment
NQ found support overnight before Monday open and rallied straight up since. This move caught many people by surprise and further fueled the run to clear Y-0 quickly, giving us a go for Y+1. Closed the week near Y+1 and week high.
Outlook
Outside reversal week usually leads to bullish outcome. But this time, the run was the result of unusual circumstances, hence a sharp pullback is likely if we get FBO against B+1. Holiday week points to lower volume and consolidation actions around B+1.
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