Recap Y-0 support sent NQ up to Y+2 and above. 4700 round number resistance sent NQ back down. Closed the week below Y+1 and midpoint.
Outlook Upchannel / Bear flag on 30-min and higher timeframe. Breaking channel support points to Y-2 / B-3 in play. Channel support holds we get a 3rd push back up above B+1.
Lawrence's Comment
Recap
Completely failed to see what was coming last week. NFP bias worked out well last week even though signs of over extension was in place. Dow held Y-0 and ...
Nasdaq 100 Jan 04 to Jan 08 Outlook
Lawrence’s Comment
Y-0 support sent NQ up to Y+2 and above. 4700 round number resistance sent NQ back down. Closed the week below Y+1 and midpoint.
Outlook
Upchannel / Bear flag on 30-min and higher timeframe. Breaking channel support points to Y-2 / B-3 in play. Channel support holds we get a 3rd push back up above B+1.
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