Recap NQ failing to clear the open gap above earlier in the week confirmed NQ being the weakest among the indices. Downside target of Y-2 and Y-3 tagged in stair step drop fashion. Closed the week below Y-2 and midpoint.
Outlook More downside likely with complex pullback in between. Y-2 / B-0 test is normal but not necessary.
Lawrence's Comment
Recap
ES got the down channel resistance and sold off from there. Monday low acted as support for one day and gave in on 2nd test. Closed the week below ...
Nasdaq 100 May 02 to May 06 Outlook
Lawrence’s Comment
NQ failing to clear the open gap above earlier in the week confirmed NQ being the weakest among the indices. Downside target of Y-2 and Y-3 tagged in stair step drop fashion. Closed the week below Y-2 and midpoint.
Outlook
More downside likely with complex pullback in between. Y-2 / B-0 test is normal but not necessary.
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