Recap Just like Dow, everything was pointing to lower prices, yet Y-1 was rejected forcefully in the beginning of the week. That gave us a clue that there is the potential of challenging Y+1 in the making. Then the news shock simply gave the bulls an excuse to clear the resistance and pushed to new high for the year. Closed the week near week high and above Y+2.
Outlook New year high in place. A retest of the old one is likely so consolidation with downside bias down to Y+1 is in play.
Lawrence's Comment
Recap
Y-1 tested and held up. Ninja was then sent back up to Y-0 and round number at 120. 120 sellers show up and pressed ninja back down. Closed the ...
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Nasdaq 100 Sep 10 to Sep 14 Outlook
Lawrence’s Comment
Just like Dow, everything was pointing to lower prices, yet Y-1 was rejected forcefully in the beginning of the week. That gave us a clue that there is the potential of challenging Y+1 in the making. Then the news shock simply gave the bulls an excuse to clear the resistance and pushed to new high for the year. Closed the week near week high and above Y+2.
Outlook
New year high in place. A retest of the old one is likely so consolidation with downside bias down to Y+1 is in play.
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