Nasdaq 100 Apr 28 to May 02 Outlook

Recap
NQ upside breakout with ES and Dow. The only one out of the 3 indices reached its Y+2 upside target. NQ then failed to hold onto its gain and formed a head and shoulder later in the week. Clean break of neckline led to a drop back to week low. Closed the week below Y+1 and near week low.

Outlook
NQ on swing basis has almost broken the down trend on daily. Almost because on close-to-close basis we did not get a close high enough. That means the fight continues into this week.

NQ downside target of B-2 / Y-0 is strong support zone. A fight there will tell if NQ can finally get out of its down trend.