Trading Edges That Last
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Lawrence's Comment Recap Strong reactions around Y-1. 100% absolute range expansion capped the moves. Closed the week below Y-1 and midpoint. Outlook Y+1 now important resistance to clear to confirm weekly pullback ...READ MOREFor more information about this report please refer to the Market Bias Informant pageREAD MOREFor more information about this report please refer to the Market Bias Informant pageREAD MOREFor more information about this report please refer to the Market Bias Informant pageREAD MOREReal-time Commentaries 2016-10-3USDCAD Mar 14 to Mar 18 OutlookPrecog Vision – US Indices 2018-9-10Hot n Cold (NDX) 2022-4-1S&P 500 Aug 19 to Aug 23 OutlookIntraday Cycle Projection (NDX) 2013-08-083DP Odds Table (NQ) 2018-10-08Real-time Commentaries 2014-10-20Precog Vision – US Indices 2017-10-20Precog Vision – US Indices 2022-2-1
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Nasdaq 100 Sep 19 to Sep 23 Outlook
Lawrence’s Comment
NQ held previous week close and rallied off there right from the start of the week. As the strongest of the 3 indices, it tagged Y+2 by end of the week and closed the week right there.
Outlook
A pull back to Y+1 is reasonable but not necessary. Although the rally was engineered for option expiration last week, it destroyed several important resistance levels thus it will be much harder for NQ to drop back down to levels like B-0 or B-1.
One subtle issue however is that NQ completed a measured move when it tags Y+2 last week. That strengthen the case for at least a shallow pullback early next week.
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