Trading Edges That Last
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Nasdaq 100 Nov 16 to Nov 20 Outlook
Lawrence’s Comment
NQ followed the other 2 indices breaking its daily support and slided down to B-1 and in turn breaking B-2 as mentioned last week. The waterfall effect helped NQ to backfill its huge open gap below. Closed the week below Y-4 and at week low.
Outlook
Support from B-1 / Y-5 has to prove their strength first before a bounce can happen. A quick drop to B-2 is in the card if players with high leverage are forced to liquidate their long positions.
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