Recap Bearish bias carried NQ lower until 100% absolute range expansion was reached off the first reaction to FOMC news shock. Then all indices took off. By Friday, we got the year high print which is the seasonal bias. Closed the week above Y+1 and near week high.
Outlook Outside up week. If NQ fails to push higher quickly early next week, consolidation / pullback will put it in 50% range around Y+1 / week close.
Lawrence's Comment
Recap
Cable popped higher first before pullback gave it a chance to stay above Y+1. That paved the way for cable to tag Y+2. Closed the week above midpoint and ...
Nasdaq 100 Dec 23 to Dec 27 Outlook
Lawrence’s Comment
Bearish bias carried NQ lower until 100% absolute range expansion was reached off the first reaction to FOMC news shock. Then all indices took off. By Friday, we got the year high print which is the seasonal bias. Closed the week above Y+1 and near week high.
Outlook
Outside up week. If NQ fails to push higher quickly early next week, consolidation / pullback will put it in 50% range around Y+1 / week close.
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