Recap Y-0 resistance dropped NQ below Y-1. Yet it was not supported by other indices. FBO against Y-1 forced a test of Y-0 and gap push above Y+1. Closed the week near Y+1 and above midpoint.
Outlook Y+1 / B+1 resistance will give us a drop back down to B-0.
Lawrence's Comment
Recap
Monday FBO Y+1 gave us gap down to Y-0 which opened the door to Y-1. Y-1 tagged with strong reaction to push back up to challenge the open gap ...
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Lawrence's Comment
Recap
The more likely case of sell off materialized. The sell off, however, stopped at 100% absolute range expansion by end of week.
Outlook
The selloff stopped above Y-1 is likely ...
Nasdaq 100 Apr 18 to Apr 22 Outlook
Lawrence’s Comment
Y-0 resistance dropped NQ below Y-1. Yet it was not supported by other indices. FBO against Y-1 forced a test of Y-0 and gap push above Y+1. Closed the week near Y+1 and above midpoint.
Outlook
Y+1 / B+1 resistance will give us a drop back down to B-0.
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