Recap Gapped down to Y-1 to start the week. Y-0 acting as resistance as expected. The push above Y-0 failed to establish Y-0 as support and collapsed down to Y-1 and free fall until 150% week range was reached. Shorts were squeezed hard until NQ made 100% range. Closed the week below Y-0 and above midpoint.
Outlook Increase in volatility was slammed back down through various leveraged means. That can stop NQ from dropping straight down but it cannot force NQ to go up. There is no upside for NQ unless we are getting lots of good earnings from the big techs which is impossible thanks to the surging of US dollar.
Lawrence's Comment
Recap
As expected, more upside resulted. Almost made it to 100% absolute range expansion. That is a very impressive push towards 13000.
Outlook
The rally is in melt up style implying ...
Nasdaq 100 Oct 06 to Oct 10 Outlook
Lawrence’s Comment
Gapped down to Y-1 to start the week. Y-0 acting as resistance as expected. The push above Y-0 failed to establish Y-0 as support and collapsed down to Y-1 and free fall until 150% week range was reached. Shorts were squeezed hard until NQ made 100% range. Closed the week below Y-0 and above midpoint.
Outlook
Increase in volatility was slammed back down through various leveraged means. That can stop NQ from dropping straight down but it cannot force NQ to go up. There is no upside for NQ unless we are getting lots of good earnings from the big techs which is impossible thanks to the surging of US dollar.
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