Recap Similar to Dow, NQ found support at Y-0 and started another leg higher until Y+2 was tagged. Following the exact same pattern as Dow, NQ pullback to Y+1 to wait for NFP. Closed the week above Y+1 and midpoint.
Outlook Test of B+1 fails will lead to a drop back down to B-1 and in turn breaking B-2 will also be likely.
Lawrence's Comment
Recap
As oppose to a pullback consolidation, ES gave us an all out blowoff top resulting in a fast 50+ points selloff. Messy price actions since. Due to holiday Monday ...
Nasdaq 100 Nov 09 to Nov 13 Outlook
Lawrence’s Comment
Similar to Dow, NQ found support at Y-0 and started another leg higher until Y+2 was tagged. Following the exact same pattern as Dow, NQ pullback to Y+1 to wait for NFP. Closed the week above Y+1 and midpoint.
Outlook
Test of B+1 fails will lead to a drop back down to B-1 and in turn breaking B-2 will also be likely.
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