Nasdaq 100 Jul 28 to Aug 01 Outlook

By News Robot

Lawrence’s Comment

Recap
Very nice rally off the support zone mentioned last week. Rally until 100% absolute range expansion completed. Y+2 rejected leading to a drop back down to Y+1. Closed the week above Y+1 and midpoint.

Outlook
Completely different from Dow, NQ has been holding onto its bullish up trend on weekly. This gives bulls an advantage in containing the potential selloff / correction during the seasonally volatile period.

A decisive break of B-1 will lead to a strong pullback on weekly back down to B-3.

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