Recap Resistance above Y+1 failed to get NQ filling the open gap below. That in turn produced an upside breakout giving us 100% range expansion off the tight range. Closed the week above Y+1 and near week high.
Outlook Upside triangle points to more upside still in play. Until B+1 turning into resistance with B-0 cleared quickly, long is still in control. Bearish scenario points to B-2 / open gap fill below.
Lawrence's Comment
Recap
Continuation sell down to Y-2 yet failed to produce a bounce. Breaking below Y-2 gave us Y-3. Closed the weekbelow Y-2 and midpoint.
Outlook
Stop hunting move once Y-2 ...
Nasdaq 100 Mar 21 to Mar 25 Outlook
Lawrence’s Comment
Resistance above Y+1 failed to get NQ filling the open gap below. That in turn produced an upside breakout giving us 100% range expansion off the tight range. Closed the week above Y+1 and near week high.
Outlook
Upside triangle points to more upside still in play. Until B+1 turning into resistance with B-0 cleared quickly, long is still in control. Bearish scenario points to B-2 / open gap fill below.
Share