Recap 2-way action around previous week close. Head and shoulder breakdown capped by higher timeframe support below and led to a squeeze higher back up to shoulder top. Closed the week near Y-0 and above midpoint.
Outlook Trapped between 2 strong price zones. Until either boundary of this 3 weeks consolidation range is breached, there is no real direction play in coming weeks.
Lawrence's Comment
Recap
The down channel was broken to the downside, resulting in a flush. Y-2 tagged and bounced off. Closed the week below Y-1 and B-0.
Outlook
3rd week printing lower ...
Nasdaq 100 May 23 to May 27 Outlook
Lawrence’s Comment
2-way action around previous week close. Head and shoulder breakdown capped by higher timeframe support below and led to a squeeze higher back up to shoulder top. Closed the week near Y-0 and above midpoint.
Outlook
Trapped between 2 strong price zones. Until either boundary of this 3 weeks consolidation range is breached, there is no real direction play in coming weeks.
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