Recap Absolutely going nowhere. February high acted as support so downside targets are not triggered. Y+1 was not breached so no upside breakout continuation trade triggered either. Closed the week below midpoint and above Y-0.
Outlook Inside week. A breakout to the downside with Y-3 target somehow magically line up with the gap fill below.
As long as B-1 is not breached, not the best short environment because the trend entering this consolidation was up so bulls are still having the advantage.
Nasdaq 100 Mar 18 to Mar 22 Outlook
Lawrence’s Comment
Absolutely going nowhere. February high acted as support so downside targets are not triggered. Y+1 was not breached so no upside breakout continuation trade triggered either. Closed the week below midpoint and above Y-0.
Outlook
Inside week. A breakout to the downside with Y-3 target somehow magically line up with the gap fill below.
As long as B-1 is not breached, not the best short environment because the trend entering this consolidation was up so bulls are still having the advantage.
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