Nasdaq 100 Feb 20 to Feb 24 Outlook

By News Robot

Lawrence’s Comment

Recap
Went higher as expected. The midweek wild swings in NQ was caused by the stock of Apple alone. The rest of the components (99 of them) contributed nothing to the moves. Closed the week above Y+1 and midpoint.

Outlook
The wild swinging structure points to instability of the index which is not a surprise as almost all the gains of the index since last week of December has been coming from Apple alone.

Apple has an exhaustion top in place. That also means NQ will have little upside potential until the rest of the components really playing catch up from here.

A pullback from here points to B-1 as the 1st target.

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