Recap Y-1 support sent NQ back up to take care of the gaps above. Stop run sent NQ above Y+1. Closed the week above Y-0 and midpoint.
Outlook Outside week with close below Y+1 is a strong attempt to break the weekly correction / consolidation without confirming the strength. A quick drop back down to B-0 / Y-0 is possible but not necessary. A breakout move above B+1 will send NQ up to 4600 / B+2.
Lawrence's Comment
Recap
Ninja breakout to the upside right from the beginning of the week. It then drifted higher to above 100 before sold off violently. Closed the week below midpoint and ...
Nasdaq 100 Jun 22 to Jun 26 Outlook
Lawrence’s Comment
Y-1 support sent NQ back up to take care of the gaps above. Stop run sent NQ above Y+1. Closed the week above Y-0 and midpoint.
Outlook
Outside week with close below Y+1 is a strong attempt to break the weekly correction / consolidation without confirming the strength. A quick drop back down to B-0 / Y-0 is possible but not necessary. A breakout move above B+1 will send NQ up to 4600 / B+2.
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