Recap FBO against B+1 gave us a drop back down to close the gap and then equal distance from previous week close. Huge squeeze gave us a new high for the week. Closed the week above Y+1 and midpoint.
Outlook NQ did not tag Y+2 points to lack of stregnth. If NQ cannot clear B+1 this week we are looking at potential breakdown back to Y-1 and below.
Lawrence's Comment
Recap
The spike high was made at Y+2 and Y+1 did not show any signs of support. That implies the other extreme is in play according to STOPD ...
Nasdaq 100 Feb 29 to Mar 04 Outlook
Lawrence’s Comment
FBO against B+1 gave us a drop back down to close the gap and then equal distance from previous week close. Huge squeeze gave us a new high for the week. Closed the week above Y+1 and midpoint.
Outlook
NQ did not tag Y+2 points to lack of stregnth. If NQ cannot clear B+1 this week we are looking at potential breakdown back to Y-1 and below.
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