Nasdaq 100 Oct 13 to Oct 17 Outlook

Recap
As mentioned last week, “there is no upside at all for NQ”. The price level NQ opened at was pretty much B+1 of the week. Big swings dropped NQ down to Y-1, back up to open and back down to Y-1 finally cleared the Y-1 support. Closed the week below Y-1 and at week low.

Outlook
Lots of bottom picking last week ignoring the bearish daily setups. Next support zone on daily is 3800 round number level. Strong reaction from there is likely given the bulls in their minds that they have no choice but to double down on this one.

Until daily bottom pattern is formed and confirmed, long trades are counter-trend and less likely to workout.