I highlighted this Nasdaq 100 chart earlier today in the PRO Service and the more this Friday session unfolded, the more critical this chart has become, so let's go into the weekend with it firmly implanted in our trading minds. NDX (Weekly Nasdaq 100) One of two diametrically opposed outcomes seem likely here, (1) a successful test of two-year support, or,(2) a failure of same. The former opens many paths for us, while the latter only one, which we have already covered over the past few weeks, in terms of analysis, forecasting and strategic option positions. Speaking of which, here as of mid-session is the status of the market index options we have been recommending throughout February and March. Option Performance Note: All options below hit new highs early in today's session as market was making its low for the day/week. If today's close on the NDX and QQQ Weekly price bars is much below the long term trend line shown in this NDX chart then next week could be dicey. To be continued in tomorrow's Weekend Update.
