Recap NQ failing to clear the open gap above earlier in the week confirmed NQ being the weakest among the indices. Downside target of Y-2 and Y-3 tagged in stair step drop fashion. Closed the week below Y-2 and midpoint.
Outlook More downside likely with complex pullback in between. Y-2 / B-0 test is normal but not necessary.
Lawrence's Comment
Recap
Made a slightly higher high first and sold off to the support zone mentioned last week. NQ then took off and never look back. Closed near the high ...
Nasdaq 100 May 02 to May 06 Outlook
Lawrence’s Comment
NQ failing to clear the open gap above earlier in the week confirmed NQ being the weakest among the indices. Downside target of Y-2 and Y-3 tagged in stair step drop fashion. Closed the week below Y-2 and midpoint.
Outlook
More downside likely with complex pullback in between. Y-2 / B-0 test is normal but not necessary.
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