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As Featured In
Nasdaq 100 Feb 07 to Feb 11 Outlook
Lawrence’s Comment
Opened the week below previous week low (Y-1) and spring back up. Gap up next to clear the previous week midpoint pointed to test of previous week high in play. Retest of week midpoint again and bounced off quickly to close the week at previous week high (Y+1).
Outlook
Range expansion 4 weeks in a row with majority of the range overlapped is extremely bearish. The traps are now built for both bulls and bears. A breakout above 2350 will produce a massive short squeeze to 50% upside expansion (B+2) while a breakdown below 2325 will produce a fast selloff with likely target of 50% downside expansion at B-2.
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