Nasdaq 100 May 19 to May 23 Outlook

Recap
NQ started the week above Y+1 invalidated its down trend, making Y-0 strong support. NQ then failed to hold above Y+1 and flushed down to support. NQ held the support zone and bounced. Closed the week above Y-0 and midpoint.

Outlook
Those who do not look at the weekly and daily timeframe last week were very confused as they do not realize NQ was trying hard to break its down trend.

Now that its down trend is broken, it has to fight for enough momentum to go back up. A weak rally coming 2 weeks will spell trouble for NQ.

NQ needs to hold above Y-0 to stand a chance for a run to B+2.