Nasdaq 100 May 13 to May 17 Outlook

Recap
The weakest among the 3 indices. Took NQ 3 tries to go lower before it finally rejected the gap below and started its zoom up. Even the zoom up was weak as it kept having trouble to push higher. Before 50% range of the week prior to the last one was reached, NQ already stalled. Closed the week near week high and above Y+1.

Outlook
Although NQ was weak, it was its consolidation week so it is expected. The key is that it held its Y+1 level and closed near the high of the week. If NQ can clear B+2 quickly early this week it can zoom to B+1 / Y+2 easily which is conveniently sitting around the round number 3000.

If B-1 is breached, however, a quick drop to B-3 will be very likely.