Recap Y-0 resistance sent NQ down to Y-2 normal target. Strong reaction from Y-2 sent NQ back up to Y-1. Y-1 resistance confirmed with end of week drop back down to Y-2. Closed the week near Y-2 and week low.
Outlook A flush low early in the week will allow NQ to drift back up to B-0 and above. Failing to form a low early in the week will lead to very extreme selling exploring the stops down at 4100 and then 4000.
Lawrence's Comment
Recap
As stated last week, stairstep rally in place. Upside target of Y+2 tagged by end of the week.
Outlook
Stairstep rally is very difficult to snap out of, thus it ...
Lawrence's Comment
Recap
NQ failed to clear prior week close and collapsed back down to Y-0. Y-0 has been acting as resistance since and sent NQ down to Y-1. Y-1 support led ...
Nasdaq 100 Sep 28 to Oct 02 Outlook
Lawrence’s Comment
Y-0 resistance sent NQ down to Y-2 normal target. Strong reaction from Y-2 sent NQ back up to Y-1. Y-1 resistance confirmed with end of week drop back down to Y-2. Closed the week near Y-2 and week low.
Outlook
A flush low early in the week will allow NQ to drift back up to B-0 and above. Failing to form a low early in the week will lead to very extreme selling exploring the stops down at 4100 and then 4000.
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