Recap Upside target tagged right at the start of the week. Turned into FBO and dropped back down to Y-0. Found support there and eventually rallied back up to clear Y+1. Closed the week above Y+1 and midpoint.
Outlook Rising wedge in the making. Can also be breakout of the current year high resistance zone. Difficult read. The easy play would be a strong reversal sending NQ back below Y+1 quickly. That will start a quick move back down to B-0.
From there, if NQ cannot hold the support up trendline from the swing lows formed last week a sell off down to B-2 is expected.
Lawrence's Comment
Recap
The attempted rally from the beginning of the week met with resistance from the week low zone prior to last week. Yet the selloff failed to break below ...
Lawrence's Comment
Recap
ES gapped above Y-0 and sparked a squeeze back up to Y+1. Y+1 resistance sent ES back down to Y-0 and below. ES attempted to fill the gap below. ...
Nasdaq 100 Apr 01 to Apr 05 Outlook
Lawrence’s Comment
Upside target tagged right at the start of the week. Turned into FBO and dropped back down to Y-0. Found support there and eventually rallied back up to clear Y+1. Closed the week above Y+1 and midpoint.
Outlook
Rising wedge in the making. Can also be breakout of the current year high resistance zone. Difficult read. The easy play would be a strong reversal sending NQ back below Y+1 quickly. That will start a quick move back down to B-0.
From there, if NQ cannot hold the support up trendline from the swing lows formed last week a sell off down to B-2 is expected.
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