Recap No pullback, just consolidation in tight range around previous week close / high zone. NQ then took off with ES and Dow upon the non-resolution in Europe on Friday. Closed the week above Y+1 and at week high.
Outlook Once in a blue moon we get option expiration to close at the extreme of the range. We just got one this month and it is bullish for at least pushing higher into B+2 zone.
Until we get a sudden reversal that breaks B-1, the up trend can accelerate from here until most of the weak shorts are crushed.
Nasdaq 100 Feb 23 to Feb 27 Outlook
Lawrence’s Comment
No pullback, just consolidation in tight range around previous week close / high zone. NQ then took off with ES and Dow upon the non-resolution in Europe on Friday. Closed the week above Y+1 and at week high.
Outlook
Once in a blue moon we get option expiration to close at the extreme of the range. We just got one this month and it is bullish for at least pushing higher into B+2 zone.
Until we get a sudden reversal that breaks B-1, the up trend can accelerate from here until most of the weak shorts are crushed.
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