Recap NQ forced back down to Y-0 as expected. Strong buying defended Y-0 and sent NQ back up to retest Y+1. Closed the week near Y+1 and week high.
Outlook Upside breakout will give us B+2. Very strong resistance on weekly basis above B+2. 4300 resistance dropping NQ back down below Y+1 / B+1 can lead to FBO setup for breakdown play down the Y-1 in coming weeks.
Lawrence's Comment
Recap
Dow tried to hold the prior support zone but failed. Flushed down to 16300 round number and defended the level. The quick snap back up gave us a go ...
Lawrence's Comment
Recap
Wait and see mode last week on euro. Strong breakdown move happened after a deal with Greece failed. Closed the week below Y-1 and near week low.
Outlook
As ...
Nasdaq 100 Feb 01 to Feb 05 Outlook
Lawrence’s Comment
NQ forced back down to Y-0 as expected. Strong buying defended Y-0 and sent NQ back up to retest Y+1. Closed the week near Y+1 and week high.
Outlook
Upside breakout will give us B+2. Very strong resistance on weekly basis above B+2. 4300 resistance dropping NQ back down below Y+1 / B+1 can lead to FBO setup for breakdown play down the Y-1 in coming weeks.
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