A sideways price action for NQ on Thursday At the end of the day it looks like NQ is going down and may open with a gap-down and then run down to support before bouncing back up again, that is as long as it does not violate support.
Key support for NQ on Friday will be at 23,750 - 23,800, bullish above, bearish below it.
NQ continued to make higher high as liquidity remains in abundance frustrating the bears. The rally should continue with or without a major pullback
On the larger daily and wekly timeframe, key support is now at 23,450, bullish above it ans it continues to squeeze the short.
On the intraday basis, for Thursday, key support is at 23,750 - 23,800.
The recent 2-day pullback down to re-test breakout level was a 400 points missed, an indication that the pullback was very bullish.
The failure to come down all the way to retest the previous swing high of 22,400 is an indication many waiting to buy would missed the boat and those waiting to exit their wrong short trade were not able to get out of their trade.
As such the rally that followed was sharp and could last for a while as investors who missed the entry has to chase the trade higher and those holding short position continue to get squeezed.
The next upside target is 24,500 - 25,000
NQ was down on Tuesday but still trading above key support at 23,100 intraday and still making higher high in a choppy fashion.
It looks like the uptrend has exhaust all its momentum buyers with most investors who are long the market are just holding on to their position as long as the market stays above support.
Choppy price action should continue as long as NQ remains above support, the 20-day moving average on the daily chart, now at 23,000.
The stock market continued to trade sideways in a very narrow range on Tuesday. The ramp-up action overnight did not hold as the market sold off soon after the open. The market seems to want to go into a pull-back-down move.
Key inflection price level for NQ on Wednesday will be at 23,000, bullish above, bearish below it with the first support at 22,850.
President Trump is now in big trouble, embroiled in the Epstein scandal, which could cause a loss in confidence, negative impact on the financial market.
The stock market looks ready for a larger pullback down move. The trigger could be President Trump Epstein scandal that could easily destabilise the financial market.
For NQ, the key intraday price level is at 22,900, bearish below it with the next support at 22,600, a double-bottom support, if broken, could trigegr a sharp sell-off that can easily tank NQ down to the next lower support at 22,200.
Strong support is not until 21,000.
The stock market continue to melt-up, the speed may be accelerating now that Trump massive spending budget has been passed, as such money printing is also going to accelerate, which is positive for the stock market index.
The USD is going to continue to collapse. We saw what happened to the stock market when currency collapse, as people rush to buy real asset just to protect their wealth.
Intraday support for NQ on Monday is at 22,800, bullish above it, bearish below it,
The stock market continue to ment up as the US dollar continues to collapse. Going into the US 4th of July holidays we should continue to see the market continuing to melt-up as more shorts are forced to cover.
For NQ th upside target is between 23,800 to 24,000.We can see NQ spiking up to it before we see a large pullback ddown to re-test breakout level, 22,400
War between Israel and Iran is currently going throu a slowing down phase, giving the market some relief. NQ is now in breakout mode and is likely to accelerate to the upside unless the war heats up again
Key price level for NQ is now at 22,500, breakout mode above it, with first upside target at 24,000, and fast reversal if it breaks back below 22,000
Still choppy sideways price action on Monday. Until it gets out of the current trading range, choppy action is going to continue.
