Recap NQ bottomed early in the week with Dow and ES but it was not one of the stronger bottoming pattern. Y-0 cleared and then it was a struggle to go higher since. NQ topped at 100% range expansion and reacted violently back down to the start of the up drift. Closed the week above Y-0 and midpoint.
Outlook A test of Y-0 / B-0 likely. Strong resistance at 4300 zone. A breach of B-0 can easily lead to B-1 and below.
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Lawrence's Comment
Recap
Previous week close acted as support gave us a clean run up to Y+1 and then 100% absolute range expansion. Closed the week near Y+1 and above midpoint.
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Nasdaq 100 Feb 09 to Feb 13 Outlook
Lawrence’s Comment
NQ bottomed early in the week with Dow and ES but it was not one of the stronger bottoming pattern. Y-0 cleared and then it was a struggle to go higher since. NQ topped at 100% range expansion and reacted violently back down to the start of the up drift. Closed the week above Y-0 and midpoint.
Outlook
A test of Y-0 / B-0 likely. Strong resistance at 4300 zone. A breach of B-0 can easily lead to B-1 and below.
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