Recap Consolidation as expected with a very thin up channel in place all week. Spike breaks of the channel all failed throughout the week. Closed the week near Y+1 and midpoint.
Outlook Tight range channels do not last. The usual break of an up channel like this is a pullback top B-1 and below.
Lawrence's Comment
Recap
Inside week. Absolutely going nowhere. Closed the week below Y-0 and midpoint.
Outlook
A week of bear flag points to retest of Y-1 sometime next week.
If a base ...
Nasdaq 100 Nov 02 to Nov 06 Outlook
Lawrence’s Comment
Consolidation as expected with a very thin up channel in place all week. Spike breaks of the channel all failed throughout the week. Closed the week near Y+1 and midpoint.
Outlook
Tight range channels do not last. The usual break of an up channel like this is a pullback top B-1 and below.
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