Nasdaq 100 Oct 27 to Oct 31 Outlook

Recap
NQ was the bullish one with hint for a run to Y+1 off its Monday action holding Y-0. Then PPT came overnight giving the indices a helping hand to clear Y+1 which led to a squeeze to Y+2. From there all out panic buying was induced. Closed the week above Y+2 and at week high.

Outlook
See comments on Dow why it is important to force the indices higher as much as possible last week.

Rising wedge setup with downside target B-0 / Y+1. Open gaps left behind is a sign of exhaustion implies short term top and often very long term top is in the making.

If NQ starts to pullback, it has to hold the Y+1 / B-0 zone to fend off another round the selling or it can drop all the way back down to Y-1 which effectively will kill the chance for a year-end rally.