Nasdaq 100 May 06 to May 10 Outlook

Recap
NQ had a 100 points upside breakout last week. Unlike Dow or ES, NQ continues to drift higher early in the week and then leading to the upside even before the NFP report. After NFP report, NQ popped to Y+3 and stayed there. Closed the week at Y+3 and near week high.

Outlook
NQ has broken above key multiple years resistance area in 1 go last week. Due to the nature of the break out, it will take at least as much time for the highest timeframe it has broken to confirm the breakout. That means within a month, if NQ traded back down to below B-0, we are looking at potential long term top in place for NQ.