Recap Early part of the week was a weak drift towards previous week close from below. As that failed to push higher, Y-2 was tagged. Then the multi-stage news shock created a short squeeze to force NQ to close at the week high.
Outlook Y+1 in play. Taking that out and within 2 weeks B+2 is possible as long as the gap below near B-0 is not challenged.
Lawrence's Comment
Recap
Dow could not hold above Y-1 leading to continuation sell down to below Y-2. Formed double bottom and zoomed higher back up to above Y-1 and initiated a squeeze ...
Nasdaq 100 Jul 02 to Jul 06 Outlook
Lawrence’s Comment
Early part of the week was a weak drift towards previous week close from below. As that failed to push higher, Y-2 was tagged. Then the multi-stage news shock created a short squeeze to force NQ to close at the week high.
Outlook
Y+1 in play. Taking that out and within 2 weeks B+2 is possible as long as the gap below near B-0 is not challenged.
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