Nasdaq 100 Oct 14 to Oct 18 Outlook

Recap
NQ finally joined the other 2 indices and sold off down to almost Y-3. Since then a major short squeeze caused by potential deal in US debt ceiling forced the market to go higher. Closed the week near week high and above Y-0.

Outlook
V-shape reversal in place. May go a bit higher this week to Y+1 but consolidation around B+1 more likely.

As I warned last time that bears should be aware that the volatility readings point to a potential bottom soon and we got that last week. It is not necessarily good for the bulls because major up tick in volatility usually points to even stronger volatility soon which implies very wild price actions is brewing.