Recap Nasdaq is the week one out of the 3 indices this past week. As pointed out last week, NQ has strong resistance at Y-0. Thus after tagging that, NQ was the only one that sold off all the way back down to test Y-1 before taking off. Closed the week at its high and above Y-0.
Outlook A strong base is formed. May not have a lot of upside this week. Tagging B+2 is probably the cap.
Consolidation between B-0 upto B+1 this coming week will be very bullish sign that a powerful rally is on its way early next year.
Lawrence's Comment
Recap
As stated last week, there would be limited potential to stretch further as that has proven correct. Closed the week near Y-0.
Outlook
Last week was not weak enough to ...
Nasdaq 100 Dec 26 to Dec 30 Outlook
Lawrence’s Comment
Nasdaq is the week one out of the 3 indices this past week. As pointed out last week, NQ has strong resistance at Y-0. Thus after tagging that, NQ was the only one that sold off all the way back down to test Y-1 before taking off. Closed the week at its high and above Y-0.
Outlook
A strong base is formed. May not have a lot of upside this week. Tagging B+2 is probably the cap.
Consolidation between B-0 upto B+1 this coming week will be very bullish sign that a powerful rally is on its way early next year.
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