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Lawrence's Comment Recap NQ gapped back up to Y-0 and stalled. Sold off back down to Y-1 and found support. Drifted back up to week mid. Closed the week below Y-0 and ...READ MOREFor more information about this report please refer to the Market Bias Informant pageREAD MORELawrence's Comment Recap As expected, ninja dropped back down to Y-0. After it breached Y-0, ninja weaken further. Closed the week below Y-0 and midpoint. Outlook Inside week after outside week with Y-0 and ...READ MORENasdaq 100 Apr 06 to Apr 10 OutlookUSDJPY Apr 24 to Apr 28 Outlook3DP Odds Table (NQ) 2021-03-103DP Odds Table (NDX) 2018-04-04Precog Vision – US Indices 2012-11-283DP Odds Table (NDX) 2020-04-01Real-time Commentaries 2013-5-233DP Odds Table (NQ) 2015-01-07USDJPY Mar 03 to Mar 07 OutlookIntraday Cycle Projection (NQ) 2022-01-06
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Nasdaq 100 Aug 19 to Aug 23 Outlook
Lawrence’s Comment
NQ did a whiplash play. First NQ held Y-0 support and pushed higher above Y+1. That is pretty much the expected move. Then NQ failed to hold above Y+1 and slided back down. Instead of trading through the support zone, NQ gapped through the complete range and flushed down to Y-2 before finding support down there. Closed the week below Y-1 and near week low.
Outlook
As mentioned last week, the downside target is supposed to be Y-3. NQ refused to go lower by end of the week is a repeat of the pattern we have seen throughout this year. This will not produce a bottom at B-1. Instead it is creating an environment perfect for another drop down to Y-3 quickly.
This is the first significant pullback in NQ on weekly. Hence, unlike Dow or ES, NQ is the one with the best chance to find a bottom and rally back up to B-0 or even higher.
The sign for a short squeeze rally would be NQ flushing lower and recover quickly above B-1 on daily close basis. Once a reversal is in place NQ can zoom back up pretty quickly.
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