Nasdaq 100 Jan 05 to Jan 09 Outlook

Recap
NQ failed to clear Y+1 and led to a drop to Y-1 quickly and then it failed to clear Y-0 resulting in more selling into Y-3. That produced a potential weekly reversal if Y-1 acted as resistance and it did. All out stop run sent NQ back down to the open gap that it is supposed to tag after new year and it is done. Closed the week below Y-3 and midpoint.

Outlook
Out of the 3 major indices, Nasdaq is the one in real trouble because it was powered up by only a few big names like what happened back in 1998-1999. As the big names are now getting more and more unstable, Nasdaq will likely pick up in volatility.

NQ has an open gap below to fill and 2014 year close to retest above. Until it moves out of this range we do not have a strong direction to play with.