NQ Guideline For Friday

Following a brief sharp drop for NQ in the morning, dropping down to support, NQ slowly rallied back in a very choppy pattern back up to resistance, looking like a bear flag to set up Friday sell-off back to Thursday low.

Key price level to watch on Friday will be at 22,150, bearish below it, an indication NQ is going back down to re-test Thursday low, and bullish above it, implies NQ is going to continue to rally back up to retest Wednesday swing high.

In any case, Fridays tends to be choppy sideways, and the pattern is setting up for a choppy Friday trading..

NQ Guideline For Thursday

A very choppy narrow range trading pattern for NQ on Wednesday as it struggled to rally just below  its double-top resistance zone. It looks like NQ may need to pullback down before breaking above resistance.

Key inflection price level for NQ on Thursday will be at 22,200, bullish above it and bearish below it. with first support level at 22,085 then 21,900

NQ Guideline For Wednesday

NQ continued to trade in a very narrow range below key double-top resistance of around 22,400, with key support now at 22,100. 

As long as NQ remains above 22,100, a breakout is coming soon, especially more so now that the S&P 500 has broken above its double-top resistance.

Breaking back below 22,100 is an indication NQ will need a pullback before breaking above its double-top. Lower support is at 21,900.

NQ Guideline For Tuesday

A choppy narrow range up-trending day for NQ on Friday as NQ approaches key resistance, a double-top with its all-time high.

The key question to ask ourselves here is, would NQ pullback before it breakout above double-top swing high before pulling back, or would NQ breakout and then pullback to breakout price level, 22,400. For the answer, we just have to wait and see.

Key intraday price level for NQ on Tuesday would be at 22,170, bullish above it, bearish below it.

NQ Guideline For Friday

A choppy up trending day for NQ on Thursday. On the longer term time frame, daily and weekly, NQ looks ready to breakout to new high, to the 23,000-24,000 price level once it can break above 22,100 key resistance and pushes higher.

On the intraday time frame NQ may need to pullback down to broken resistance, now support at 21,900.

However, a sustained break above 22,100 could trigger a short-covering rally. If so, we could see a large rally even on Friday when the market tends to get choppy sideways.

NQ Guideline For Thursday

Higher than expected CPI print on Wednesday tanked the stock market at the open with NQ opening down to 21,550 key support. Buyers quickly came to buy triggering a rally to just below key resistance 11, 900 for NQ

Thursday trading will be interesting as NQ looks set to break above 21,900 resistance. If it does and if it can stay above 21,900 resistance we could see shorts being forced to cover. If so we could see a trending up day, higher resistances are at 22,150 and 22,250.

NQ Guideline For Wednesday

 Financial market continue to be choppy and NQ is no exception. 

NQ trading range is now between 21,900 resistance and 21,550 support. However the daily range has dropped down to 100 - 150 points as most market participants are on the sideline waiting for a breakout in either direction,

21,900 key resistance, 21,550 key support.

 

NQ Guideline For Tuesday

A very narrow range trading for NQ on Monday. On the daily chart there is really no indication of a trending moves unless NQ can break and push higher above 21,900.

Tuesday may be another choppy narrow range day again as NQ remains inside a trading range between 21,.000 - 22,000

NQ Guideline For Friday

A sideways choppy trading action for NQ on Thursday.  Without any unexpected market-moving news on Friday the choppy sideways action is to continue. Another sell-off is likely to occur again on Monday next week.

Strong resistance is at 21,900 to 22,100.

NQ Guideline For Friday

On Wednesday NQ closed at the high of the day just below 21,800 resistance zone. NQ is likely to continue to rally in the morning with resistance at 21,900 - 22,100. 

To do so it must break above  21,800 then 21,900. Failure to break above could attract short-sellers.

First strong support is 20,550 and it should not be broken on Thursday without any major unexpected market-moving news..

Selling may have to wait until next week Monday as long as 20,550 holds.