Trading Edges That Last
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As Featured In
Nasdaq 100 Apr 09 to Apr 13 Outlook
Lawrence’s Comment
The big surprise last week came from NQ. As oppose to slide down to support level early in the week, a short squeeze sending NQ to retest Y+1 early in the week and failed. That used all the remaining potential buying power as indicated across all breadth reading. Collapsed to below Y-1 yet bounced strongly back to midpoint of the week to close.
Outlook
As Y-1 failed to act as support, a retest of Y-1 is in order. Failing to hold above Y-1 points to B-2 as next stop to the down side.
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