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 war in Libya and natural disaster in Japan continues, the weaknesses in Aussie is completely reversed. Not even once on 4 hour chart that any kind of ...
Lawrence's Comment
Recap
NQ never traded lower to test B-1, forming a dirty bottom and squeeze higher. This led to weaknesses at Y+1 and double top. Once the selloff started it can ...
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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