Nasdaq 100 Oct 17 to Oct 21 Outlook

Recap
Strongest of the 3 indices – upside range expansion followed fib ratio instead of the more structured 50%. That tells us the rally is getting emotional. Closed the week at the high of the range.

Outlook
A blowoff top is likely as short squeeze rally do not usually end with rounding top. A quick melt up to B+2 or even B+3 on Monday and quickly selloff back below B+1 by Tuesday or Wednesday will confirm the top.

If instead NQ goes into a choppy range and decline slowly back down to B-1 and bounce off, another up leg will take out B+1 with more upside in store over the coming weeks in November as historically that is a much more bullish time period.