Nasdaq 100 Jul 25 to Jul 29 Outlook

By News Robot

Lawrence’s Comment

Recap
Essentially rallied the whole week as expected. Rallied from Y-1 to Y+2 target. Made new high for the year by close.

Outlook
Weekly new high for the year on close is very bullish signal. It points to buying all pullbacks until we get a blowoff top.

The catch, as stated in the comments for Dow, is that if US officials disappoint the world by really doing the right thing to cut its deficit and tax more, the US stock market will crash down hard. Key level is B-0. If it turns into resistance, it can send NQ down to B-1. If B-1 breaks and close below that on weekly basis, NQ will face a potential selloff 1st target at 2250.

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