Nasdaq 100 Feb 16 to Feb 20 Outlook

By News Robot

Lawrence’s Comment

Recap
NQ chose to breakout above 4300 in 1 go. That’s a low probability move hence giving us the 100% range expansion. Closed the week above Y+2 and at week high.

Outlook
Strength in NQ is mainly coming from 2 stocks only – Apple and Google. At this point we are not really trading an index, just these 2 stocks. This is a repeat of what happened back in year 2000 where NQ is driven by the top 5 components only. This will induce exceptional amount of volatility down the road.

For now, if no bad news coming from Europe or Fed, it is likely NQ will consolidation around B+1 with a pullback to B-0 by Friday option expiration.

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