Recap I was expecting a retest of Y+1 and possibly a run to Y+2. Well, it turned out to be full blown melt up to Y+3. Then, without warning, collapsed back down to below Y+1. Closed the week below midpoint and near Y+1.
Outlook The strong reversal to the down side with a weak close points to further weaknesses into early next week.
Gap fill below is likely.
After gap fill if support is found quickly, then a bottom can be built over a week or 2 and then retest of year high is likely.
Lawrence's Comment
Recap
NQ followed the seasonal selloff script to the T. Y-3 acted as support twice before being breached on the 3rd try. Closed the week below Y-3 and at week ...
Lawrence's Comment
Recap
No run down to Y-2. Double bottom at Y-1 and the breakout at Y+1 gave us Y+3 target by STOPD. Almost tagging Y+3 by end of week. ...
Lawrence's Comment
Recap
FBO last week gave us the drop down to near Y-2 until 100% absolute range expansion was tagged. Closed the week below Y-1 and midpoint.
Outlook
Y-2 / B-1 ...
Nasdaq 100 Apr 02 to Apr 06 Outlook
Lawrence’s Comment
I was expecting a retest of Y+1 and possibly a run to Y+2. Well, it turned out to be full blown melt up to Y+3. Then, without warning, collapsed back down to below Y+1. Closed the week below midpoint and near Y+1.
Outlook
The strong reversal to the down side with a weak close points to further weaknesses into early next week.
Gap fill below is likely.
After gap fill if support is found quickly, then a bottom can be built over a week or 2 and then retest of year high is likely.
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