Trading Edges That Last
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Lawrence's Comment Recap S&P acted the weakest as noted last week. It dropped 100% absolute range expansion to the downside and tagged Y-3. Outlook Although S&P was weak, it is still holding ...READ MOREFor more information about this report please refer to the Market Bias Informant pageREAD MORETo utilize S&P500 Tick1K Index, we can start from its basic properties of being highly correlated to the bar to bar pattern with Emini S&P (and SPY too) on 5-minute ...READ MOREUSDCAD Oct 11 to Oct 15 OutlookIntraday Cycle Projection (NQ) 2019-11-26Real-time Commentaries 2022-12-30US Market Pre-Open 2022-11-22S&P 500 Jul 18 to Jul 22 Outlook3DP Odds Table (NQ) 2019-01-09Weekly Cycle Projection (NQ) 2021-11-29GBPUSD May 29 to Jun 02 OutlookPrecog Vision – US Indices 2018-2-13Trading with Tick Index: S&P500 Tick1K Index Mismatch
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Nasdaq 100 Aug 20 to Aug 24 Outlook
Lawrence’s Comment
Unlike Dow, NQ successfully breakout early in the week and Y+1 has been acting as support all the way. Then the rally pushed NQ to our upside target Y+3 area. Closed the week at week high and above Y+3.
Outlook
The primary upside objectives are all completed for NQ. From here onward if NQ has to go higher it has to absorb its overbought condition in breadth quickly. What that means is consolidation with minimal pullback but extreme selling in breadth reading.
Since we cannot predict that the above scenario will unfold, we should focus on the fact that it is likely for NQ to tag B-0. If B-0 failed to act as support, a flush to below B-1 is expected.
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