Trading Edges That Last
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Nasdaq 100 Aug 22 to Aug 26 Outlook
Lawrence’s Comment
Failed to hold up at the top support area and fell off the cliff like Dow. Closed the week tagging Y-1.
Outlook
Outside down week and closed almost at the low price is very bearish. A flush is expected.
Y-2 is a natural target for a quick flush to tag. It can happen as early as Monday.
If the flush is answered by a bounce above Y-1 quickly, it can be an important bottom in the making.
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