Here's how the NAS 100 looks on Sunday night going into a week of Aug 23-27. The NAS chart had an ominous look to it going into Friday with the rolled top and price threatening to break key support. On Friday price recovered nicely from the first green zone and finished strongly above the neutral zone (tan box). Futures are currently up and the bias has swung bullish again. I will be looking for price to hold the tan box and move higher. Obviously a break of the ATH would be very bullish for the mega cap names that seem to leading the charge. If the price action remains bullish I will be watch the growth names (that have been beaten up badly) for a reversal. One caveat I have is that price did not retest the recent lows before heading higher on Friday. I my experience most times a significant low will see a retest. I price falls below the tan box expect a move back down to the recent low. The other caveat is that Jackson Hole is happening this week and any major Fed event usually means chop and indecision. A usual price action rules the day.
