Nasdaq 100 Dec 15 to Dec 19 Outlook

By News Robot

Lawrence’s Comment

Recap
NQ followed the seasonal selloff script to the T. Y-3 acted as support twice before being breached on the 3rd try. Closed the week below Y-3 and at week low.

Outlook
The backfill is necessary as NQ has been rallying for months with no support zone built anywhere below. This selloff helps NQ to correct some of its short term breadth overbought conditions. Seasonally the stock market will now enter holiday mode with minimal volume which favours the bulls.

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