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
Consolidated around Y+1 until Y+1 turning into support. Moved higher until 50% previous week range established. Closed the week above Y+1 and midpoint.
Outlook
Above B+1 likely. FBO against ...
Lawrence's Comment
Recap
Easy play of the week. Held support, run to target mentioned last week and stalled. Closed the week below Y+1 and above midpoint.
Outlook
B-0 acting as support we ...
Lawrence's Comment
Recap
Weaken early in the week but Y-1 was never tested. Consolidated below Y-0 during the quiet holidays. Then a low volume short squeeze / stop run took Loonie conveniently ...
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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