Recap NQ started out the week very strong tagging Y+2. It then failed to hold above Y+1 and slided all the way back down to Y-1 which I warned about. From there NQ continues to show strength by rallying back up to Y+1. After NFP was out, NQ could no longer hold up and collapsed straight down to Y-3.
Outlook NQ does not have a lot of support at the current level. If higher timeframe players show up, NQ may be able to bounce from Y-4 area and consolidate from there. Until B-1 is proven support, up side is limited.
Lawrence's Comment
Recap
Warned in my premium member newsletter special update that extreme wild swings were expected last week. Also warned here last week that whiplash coming. We got wild swings in ...
Nasdaq 100 Mar 09 to Mar 13 Outlook
Lawrence’s Comment
NQ started out the week very strong tagging Y+2. It then failed to hold above Y+1 and slided all the way back down to Y-1 which I warned about. From there NQ continues to show strength by rallying back up to Y+1. After NFP was out, NQ could no longer hold up and collapsed straight down to Y-3.
Outlook
NQ does not have a lot of support at the current level. If higher timeframe players show up, NQ may be able to bounce from Y-4 area and consolidate from there. Until B-1 is proven support, up side is limited.
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