Nasdaq 100 Sep 19 to Sep 23 Outlook

By News Robot

Lawrence’s Comment

Recap
NQ held previous week close and rallied off there right from the start of the week. As the strongest of the 3 indices, it tagged Y+2 by end of the week and closed the week right there.

Outlook
A pull back to Y+1 is reasonable but not necessary. Although the rally was engineered for option expiration last week, it destroyed several important resistance levels thus it will be much harder for NQ to drop back down to levels like B-0 or B-1.

One subtle issue however is that NQ completed a measured move when it tags Y+2 last week. That strengthen the case for at least a shallow pullback early next week.

Share

  • You must be logged in to comment. Log in