Nasdaq 100 Jan 20 to Jan 24 Outlook

Recap
A sell off out of nowhere thanks to jawboning by Fed officials. Y-1 breached but NQ recovered with a revenge rally back to challenge Y+1. That opened the door to Y+2 for us. Y+2 tagged and going sideway since. Closed the week above Y+1 and midpoint.

Outlook
Extremely strong reaction to soundbites from the officials is not a good sign. That was what happened to euro for years and now infecting the indices too.

Normal situation NQ should consolidate around its close at 50% range. Until B+1 or B-0 is breached and that we get to see the reactions there no directional bias yet.