Recap NQ consolidated around its previous week close and then took off to test Y+1 from below. Clean break out above Y+1 points to strength and NQ drifted higher since as Dow and S&P dragged it higher. Closed the week above Y+1 and midpoint.
Outlook NQ is the weakest among the 3 major indices. Potential FBO ledge top in the making if NQ fails to hold above 4300 with target back down at B-1 and below.
Lawrence's Comment
Recap
Consolidation week around Y+1. 50% previous week range. Closed the week near week low and below Y+1.
Outlook
Consolidation ended in a weak tone points to potential flush down to B-2 ...
Nasdaq 100 Mar 07 to Mar 11 Outlook
Lawrence’s Comment
NQ consolidated around its previous week close and then took off to test Y+1 from below. Clean break out above Y+1 points to strength and NQ drifted higher since as Dow and S&P dragged it higher. Closed the week above Y+1 and midpoint.
Outlook
NQ is the weakest among the 3 major indices. Potential FBO ledge top in the making if NQ fails to hold above 4300 with target back down at B-1 and below.
Share