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
Absolutely going nowhere. February high acted as support so downside targets are not triggered. Y+1 was not breached so no upside breakout continuation trade triggered either. Closed the week ...
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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