Recap B+1 resistance together with low volume gave us consolidation actions all week. Closed the week near Y+1 and above midpoint.
Outlook Sideway actions with a weak upside triangle formation points to potential upside breakout for Y+2. Such actions can be the making of a blow off top.
Lawrence's Comment
Recap
As mentioned last week, looking for a rally to 1300 and we got that, plus a lot more. 1300 turned into support and helped to send ES ...
Nasdaq 100 Aug 15 to Aug 19 Outlook
Lawrence’s Comment
B+1 resistance together with low volume gave us consolidation actions all week. Closed the week near Y+1 and above midpoint.
Outlook
Sideway actions with a weak upside triangle formation points to potential upside breakout for Y+2. Such actions can be the making of a blow off top.
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