Recap The bullish bias pays off. My target at Y+3 was leaped through and NQ essentially did a melt up all the way til the end of the week. Closed the week above Y+5 and at week high.
Outlook More upside is expected with very wild consolidation swings.
The last part of the week showed early signs of distribution but the volume of distribution was not enough to spark a powerful selloff.
We are entering the phase of distribution now and it can take several weeks to complete. We will be able to get a better picture once the first 40 pts pullback is in place.
Answering a question from our reader - Would using multiple criteria like combining the condition of close greater than or equal to pivot (PP) and the condition of close greater ...
Lawrence's Comment
Recap
Y-1 support clearly holding the pair up for the week. Consolidation around previous week close. Closed the week below Y-0 and midpoint.
Outlook
A irregular down channel in place ...
Nasdaq 100 Jul 15 to Jul 19 Outlook
Lawrence’s Comment
The bullish bias pays off. My target at Y+3 was leaped through and NQ essentially did a melt up all the way til the end of the week. Closed the week above Y+5 and at week high.
Outlook
More upside is expected with very wild consolidation swings.
The last part of the week showed early signs of distribution but the volume of distribution was not enough to spark a powerful selloff.
We are entering the phase of distribution now and it can take several weeks to complete. We will be able to get a better picture once the first 40 pts pullback is in place.
Share