Recap Amazingly efficient NQ tested Y-0 first thing in the week and the selloff started. Target zone Y-2 was tagged quickly and the rest of the week was the classic option expiration week 15+ pts swings til the end of the week.
Outlook On daily level, NQ does not look “right” in terms of forming a bottom. If NQ failed to take out B-0 early in the week, we will get another stair step selloff down to B-2.
Overview
Emini overnight range 2164.25 to 2175.75 (at 9:00 am)
Overnight Midpoint 2170.00
Previous Month Close 2168.75
Battleplan for the Day
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Nasdaq 100 Apr 18 to Apr 22 Outlook
Lawrence’s Comment
Amazingly efficient NQ tested Y-0 first thing in the week and the selloff started. Target zone Y-2 was tagged quickly and the rest of the week was the classic option expiration week 15+ pts swings til the end of the week.
Outlook
On daily level, NQ does not look “right” in terms of forming a bottom.
If NQ failed to take out B-0 early in the week, we will get another stair step selloff down to B-2.
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