Nasdaq 100 May 16 to May 20 Outlook

By News Robot

Lawrence’s Comment

Recap
NQ attempt Y+1 and produced a FBO on daily. This gives us Y-1 target. NQ sold off to 100% absolute range and tried to bounce. Closed the week below Y-0 and near week low.

Outlook
Y-0 / B-0 strong resistance until proven otherwise. Breaking below Y-0 points to very steep sell off in the making as there is no support on monthly below this 4300 zone until 4200 and below.

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