Nasdaq 100 May 27 to May 31 Outlook

Recap
Amazing strength continues in NQ early in the week as it marches up within the thin up channel. Then NQ broke below the channel support and triggered downside target Y-1. NQ flushed down to Y-1 and bounced. In consolidation since. Closed the week below Y-0 and midpoint.

Outlook
Very unusual selloff this past week. It is not a surprise though because I warned in real-time chat that a sudden flush during the week was very likely due to certain breadth readings. Nonetheless, it is still exciting to go through the process.

Normal expectation after a wild week is consolidation. Looking for NQ to move around the week close within 50% previous week range. So B-0 and B-1 should act as boundaries. Will take another news shock to take this lower as it is expected that central bankers will intervene anytime now.