Recap Hope for continuation selloff in July is almost always squashed. Y+1 breached right at the start of the week. Consolidated around Y+1 since. Found support late in the week for a run to fill the gap above. Closed the week at week high and above Y+1.
Outlook Consolidation with strong close. Not necessary very bullish but still bullish. B-0 / Y+1 is now support until they are not.
Upside potential is strong going into the 2nd week of July as seasonal bias kicks in. B+2 is likely to be tagged first thing next week.
Nasdaq 100 Jul 08 to Jul 12 Outlook
Lawrence’s Comment
Hope for continuation selloff in July is almost always squashed. Y+1 breached right at the start of the week. Consolidated around Y+1 since. Found support late in the week for a run to fill the gap above. Closed the week at week high and above Y+1.
Outlook
Consolidation with strong close. Not necessary very bullish but still bullish. B-0 / Y+1 is now support until they are not.
Upside potential is strong going into the 2nd week of July as seasonal bias kicks in. B+2 is likely to be tagged first thing next week.
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