Nasdaq 100 Aug 24 to Aug 28 Outlook

Recap
Y-0 support as expected and sent NQ up to near Y+1. NQ failed to clear the former support zone, forced it back down to test Y-0. Fed minutes released on Wed and then Asian markets going south helped NQ to break the Y-0 support sending it straight down to below Y-1. Option expiration amplified the move to clear the normal breakout target of Y-3. Closed the week below Y-4 and near week low.

Outlook
A bounce is likely with consolidation around B-1 also likely. Even at reduced range, this coming week will be wild relative to the quiet times we enjoyed over the past few months.