Recap In sync with Dow, but weaker, NQ struggled to clear Y+1 and eventually fall back down to Y-0. Y-0 support gave it fuel to go up to Y+2. Closed the week near Y+2 and week high.
Outlook Rising wedge actions point to potential breakdown play with B-1 target. Clearing B-1 quickly will give way to B-3.
Lawrence's Comment
Recap
Mario Draghi nuked the Euro melt down move and sparked a stop run of almost 500 pips. Closed near Y+4 and above midpoint.
Outlook
Seasonal effect on Euro is ...
Nasdaq 100 Oct 19 to Oct 23 Outlook
Lawrence’s Comment
In sync with Dow, but weaker, NQ struggled to clear Y+1 and eventually fall back down to Y-0. Y-0 support gave it fuel to go up to Y+2. Closed the week near Y+2 and week high.
Outlook
Rising wedge actions point to potential breakdown play with B-1 target. Clearing B-1 quickly will give way to B-3.
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