Recap Behaved similar to Dow in drifting higher with clear extra strength coming from short squeeze has taken NQ above Y+2. Tried hard to stay about the inside week breakout range for couple of days but eventually failed and closed the week around the close of the week prior to last week.
Outlook The breakout to the upside has failed but the uptrend is not completely broken yet.
Only if NQ breaking below B-1 and that B-1 upto Y+1 turning into a resistance zone would we get more severe selloff.
If NQ bottoms out here at B-1, we get B-0 as a minimum.
Last year I posted my year 2016 predictions on various financial markets and it was very well received. Instead of doing it occasionally, I am making it part of the ...
Lawrence's Comment
Recap
Test of Y+1 led to clean drop to below Y-0 triggering Y-1 target. Y-0 acted as resistance since giving us Y-1 quickly and Y-2 eventually. Closed the week below ...
Nasdaq 100 Sep 05 to Sep 09 Outlook
Lawrence’s Comment
Behaved similar to Dow in drifting higher with clear extra strength coming from short squeeze has taken NQ above Y+2. Tried hard to stay about the inside week breakout range for couple of days but eventually failed and closed the week around the close of the week prior to last week.
Outlook
The breakout to the upside has failed but the uptrend is not completely broken yet.
Only if NQ breaking below B-1 and that B-1 upto Y+1 turning into a resistance zone would we get more severe selloff.
If NQ bottoms out here at B-1, we get B-0 as a minimum.
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