Nasdaq 100 Dec 16 to Dec 20 Outlook

Recap
NQ tried very down in the beginning of the week to hold onto Y+1 as support, yet Dow was so weak, it dragged NQ and ES along back down. NQ clean slide back down to Y-0 where the open gap was closed. As Dow collapsed lwoer, NQ moving lower with choppy actions and breached Y-1 eventually. Closed the week below Y-1 and near week low.

Outlook
Outside week. Close below Y-1. Bearish pattern in place. But the directional move from B+1 down to B-1 was also overdone in lower timeframes so a bounce is due.

A bounce back up to B-0 is likely if NQ can found support early next week.

Seasonal weaknessed arrived on time and delivered the selloff last week. It is not likely we are going to get much more selling during the last weeks of 2013.