Nasdaq 100 Oct 21 to Oct 25 Outlook

By News Robot

Lawrence’s Comment

Recap
Unlike Dow or ES, NQ has a clean upside breakout setup with Y+1 acting as support early in the week. That points to a move to clear Y+2 and an attempt at Y+3. Closed the week near week high and above Y+2.

Outlook
200+ points run in 7 trading days. Google earning shock contributed to the last 50 points. Obviously, someone was caught on the wrong side and was forced to liquidate.

Blow off top in the making with obvious support at 3300 and 3250 area. Will be very difficult to play the down side with swing trade as there is no clear resistance area above. Even if NQ drops back down to the support area, it is still a pullback only as daily timeframe has resumed its up trend.

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