Recap Bearish pattern played out with Y-1 tagged. Violent reactions to Y-1 zone led to complete reversal making new high for the week. Closed the week near Y-0 and above midpoint.
Outlook B-0 / Y-0 potential platform for slingshot move to clear Y+1 / B+2. Yet once B-0 is breached there is not much support until B-2 and below.
Lawrence's Comment
Recap
I thought the backfill back down to Y-1 was going to be choppy. Instead, we got this clean directional slide all the way down. Cleared Y-1 easily and then ...
Nasdaq 100 Sep 05 to Sep 09 Outlook
Lawrence’s Comment
Bearish pattern played out with Y-1 tagged. Violent reactions to Y-1 zone led to complete reversal making new high for the week. Closed the week near Y-0 and above midpoint.
Outlook
B-0 / Y-0 potential platform for slingshot move to clear Y+1 / B+2. Yet once B-0 is breached there is not much support until B-2 and below.
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