Recap Deep pullback to Y-0 as expected. Closed the week near Y-0 and week low.
Outlook Potential significant top in place as NQ new high was not comfirmed by Dow or ES. Can lead to quick drop back down to Y-1 if NQ cannot close above B-0 by end of this week.
Lawrence's Comment
Recap
Expectation of euro going lower paid off. FOMC announcement failed to swing euro above Y+1 and gave us the Y-2 target. Closed the week below Y-1 and midpoint.
Outlook
As long ...
Nasdaq 100 Jul 27 to Jul 31 Outlook
Lawrence’s Comment
Deep pullback to Y-0 as expected. Closed the week near Y-0 and week low.
Outlook
Potential significant top in place as NQ new high was not comfirmed by Dow or ES. Can lead to quick drop back down to Y-1 if NQ cannot close above B-0 by end of this week.
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