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
Bearish bias on euro pays off. Euro could not hold previous week close and fell back down to Y-0. Not much bounce was observed when euro continue to drop ...
Lawrence's Comment
Recap
Flushed lower first and then 2000 round number acted as platform for a rally into FOMC announcement as expected. ES sold off since then and dropped back down to ...
Overview
Emini overnight range 2068.50 up to 2079.50 (at 8:55 am)
Overnight Midpoint 2074.00
Previous Week High 2066.50
Emini S&P is now trading at the top part of its range with ...
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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