Nasdaq 100 Feb 25 to Mar 01 Outlook

Recap
Topped out in the beginning of the week and flushed down to my target below. But it did not stop there. NQ gapped down and flushed down to Y-5. 300% range expansion is rare and we just got one. NQ bounced back up since. Closed the week below midpoint and Y-2.

Outlook
Breakout mode from last week gave us 1 FBO to the upside and 1 real breakout to the downside. That was not bad. But if you choose to trail your position with a stop, the profit is now mostly gone.

The bounce from last week also rejected the 2700 gap below. In another words, it is another FBO, this time on monthly scale. As long as 2710-2720 holds, NQ can rally all the way back up to Y-1.