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As Featured In
Nasdaq 100 Feb 22 to Feb 26 Outlook
Lawrence’s Comment
NQ cleared Y+1 by gapping above it right off the start of the week. That forced all shorts to cover and the Y+3 target for surprise move was tagged. Consolidation since. Closed the week above Y+2 and midpoint.
Outlook
Dirty bottom on daily formed. NQ open gap above is a magnet if B-0 support helps NQ to clear B+1. Failure to clear B+2 will create a bigger and stronger megaphone pattern with B-1 and below likely in coming weeks.
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