Recap Gapped down to Y-2 following Dow. That turned Y-0 into resistance zone. Yet NQ bounced from Y-2 all the way to above Y-0 creating mixed signals. At the end NQ followed Dow and S&P closing the week below Y-1.
Outlook Not as bearish as Dow or S&P, NQ keeps fighting the selloffs from past few weeks and printing higher high swings.
That may change if B-0 turns into resistance this week forcing a retest of B-1. A break below B-1 by close of the week will finally confirm a downtrend.
Lawrence's Comment
Recap
Gap up and traded above Y+1 has turned into a false breakout. That set the stage for a selloff to Y-1. Yet right before Y-1 was tagged, ...
Nasdaq 100 Sep 12 to Sep 16 Outlook
Lawrence’s Comment
Gapped down to Y-2 following Dow. That turned Y-0 into resistance zone. Yet NQ bounced from Y-2 all the way to above Y-0 creating mixed signals. At the end NQ followed Dow and S&P closing the week below Y-1.
Outlook
Not as bearish as Dow or S&P, NQ keeps fighting the selloffs from past few weeks and printing higher high swings.
That may change if B-0 turns into resistance this week forcing a retest of B-1. A break below B-1 by close of the week will finally confirm a downtrend.
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