Recap NQ zoomed higher to Y-0 and held there for the FOMC announcement. That alone opened the door to Y+1. Post announcement, NQ immediately tagged the target and by op-ex Friday it zoomed to 100% range expansion target. Closed the week above Y+1 and midpoint.
Outlook Consolidation likely as the market shock has left too many pockets below. An orderly pullback will give us a drop back down to B-0, say, over the course of a week. If the wide moves continue, we may see price jumps back down to Y-0 through gaps again.
Lawrence's Comment
Recap
Bearish expectation worked out for Aussie. Rising wedge breakdown led to selloff down to target Y-5 and below. Closed the week below Y-5 and near week low.
Outlook
Weaknesses ...
Nasdaq 100 Mar 23 to Mar 27 Outlook
Lawrence’s Comment
NQ zoomed higher to Y-0 and held there for the FOMC announcement. That alone opened the door to Y+1. Post announcement, NQ immediately tagged the target and by op-ex Friday it zoomed to 100% range expansion target. Closed the week above Y+1 and midpoint.
Outlook
Consolidation likely as the market shock has left too many pockets below. An orderly pullback will give us a drop back down to B-0, say, over the course of a week. If the wide moves continue, we may see price jumps back down to Y-0 through gaps again.
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