Nasdaq 100 Jan 28 to Feb 01 Outlook

Recap
One of the most tricky weeks in these few years. First, in beginning of the week swinging around Y-0. Gapped to Y+1 and traded above. The gapped back down to way below Y-0 yet refused to tag Y-1 at all. Multiple attempts since to push above Tuesday high and failed. Closed the week at Y-0 and below midpoint.

Outlook
False breakout to the upside with island reversal points to both exhaustion top and trapped bulls are in trouble. Yet, the persistent buying to stop NQ from dropping makes no sense, unless everyone is betting the market would repeat what happened last year where the indices just zoom higher.

Chart pattern suggested that once B-1 is breached, a quick flush to below B-2 is likely.