NQ Guideline For Friday

Another choppy narrow-range up-day again for NQ on Thursday. As long as key support price level is not violated NQ is going to continue upward, without any large pullback-down mode, it will continue to be choppy.

Greek debt crisis is going to continue to be a major influence on the financial markets.

 

Key support for Friday will be 4450.

-- Rally to continue above 4450

-- Pullback consolidation on a break below 4450

NQ Guideline For Thursday

Dragged down by a sell-off in Apple share, AAPL, NQ sold off in the afternoon sending NQ into a pullback-down mode. 

Whether or not NQ will continue its sell-off or resume its uptrend on Thursday, only time will tell, and will depend on where it trades in relation to its price inflection level.

Price inflection level for NQ on Thursday will be 4445

-- Trading below 4445 is an indication NQ is still in a pullback-down mode, next support is 4415

-- Trading back above 4445 implies NQ uptrend has resumed.

NQ Guideline For Wednesday

Another choppy narrow-range up-day again for NQ on Tuesday. With the Fed likely the only buyer in town the market is just struggling moving upward. Janet Yellen testimony failed to move the market.

 

Without any major unexpected even that can cause sellers to sell, the current choppy slow narrow-range uptrend is going to continue, with or without a pullback, with the next technical target on the daily chart at 4600, but 4500 whole number resistance could cause some pullback prior to NQ reaching 4600 target.

Key support for NQ on Wednesday will be 4440.

-- Uptrend to continue above 4440 withour any larger degree pullback-down move.

-- Clear break below 4440 is an indication NQ is going into a 1 to 2 day pullback mode

NQ Guideline For Tuesday

As expected, another slow, choppy and narrow-range up-day for NQ on Monday. Without any large pullback the pattern of slow, choppy and narrow-range up-day is going to continue.

Key support for Tuesday will be 4430.
-- As long as NQ pullback-down decline can stay above 4430 on Tuesday, look for the rally to continue.
-- A clear break below 4430 implies a larger pullback-down move.

NQ Guideline For Monday

With No Change in the Greek debt situation last Friday, unless the Greek people can somehow overthrow the bums that they voted into office to supposedly represent them, but instead represented the bankers, nothing is expected to interrupt the Fed non-stop buy programs designed to push the market up and up to the next technical target of 4600. The rally may be  slow or may be fast, with or without a pullback.

Key support for NQ on Monday is 4415 . 

-- As long as NQ can stay above 4415 the uptrend should continue without much pullback.

-- Breaking below 4415 however, is an indication NQ is going into a one to two days pullback-down mode.

NQ Guideline For Friday

Another uninteresting narrow-range up-day for NQ on Thursday. Until NQ can get a decent pullback down move, it is going to continue to be choppy and narrow-range. However, there is a very clear bearish divergence on the 60-minute chart MACD, so may be ready for a larger pullback down move.

Key support for NQ on Friday will be 4400.

-- Bullish above 4400, an indication NQ is still continuing its uptrend.

-- Breaking below 4400 implies a larger pullback down move, first support is 4385

Germany and  Greece are on a collision course ahead of crucial bailout talks on Friday after Berlin knocked back a Greek compromise proposal and insisted the country stick to its existing austerity plan.

 

Setting the scene for a make-or-break meeting in Brussels , the eurozone’s largest economy dismissed as “not substantive” a proposal from Greek finance minister Yanis Varoufakis,which appeared to have all but capitulated to creditors’ demands.

NQ Guideline For Thursday

Another non-event day in the market on Wednesday with NQ trading in a narrow sideways range, with no buyers to rally the market upwards, and no short-sellers willing to sell until we NQ breaks below key support level.

That key support level on the 5-minute chart for NQ on Thursday is 4375.

-- As long as NQ stays above 4375 it is likely continue to chop its way up.

-- A clear break below 4375 is likely to trigger some algo sell programs but strong support lies at 4340 area.

NQ Guideline For Wednesday

NQ current uptrend on the daily chart looks tired and exhausted, and in overbought conditions, ready for a pullback, but at the same time, it can continue to chop its way upward.

On Tuesday NQ stayed above key inflection price level of 4370 but without any new buyers except the Fed HFT machine, it simply traded sideways in a narrow trading range. 

On Wednesday, key support price level for NQ is 4375.

-- As long as NQ can stay above 4375 NQ is either going to trade sideways or continue to trend upward.

-- Breaking below 4375 could trigger some algo sell programs, with the next support at 4345

NQ Guideline For Tuesday

NQ daily chart is still in a very strong uptrend, but may soon be ready for a one to two days pullback before resuming the uptrend, that is, as long as any pullback-down move does not clearly violates key pullback price level.

Key inflection price level for NQ on Tuesday will be 4370

-- Trading above 4370 is an indication NQ is still in a strong uptrend with the next ADR upside target at 4418.25

-- Clearly breaking below 4370 however, implies NQ is in a pullback-down mode, next support is at 4345.

Greece debt negotiation with the EU should continue to be a major influence on the direction of the stock market.

 

NQ Guideline For Friday

NQ opened with a gap-up and then ran-up all day, breaking above the high on the daily chart, but by just a slight amount. Whether or not the shorts will cover on Friday, which would imply a fast move upward, only time will tell, and it will depends on where NQ trades in relation to key price level for Friday.

Key price level for NQ on Friday will be the recent swing high of November 2014 at a price of 4345 area.

-- Trading above 4345 on Friday has the potential to trigger short-covering rally or spike.

-- Trading below 4345 is an indication NQ is going into a pullback mode, first support is 4320 area. Should 4320 is violated, the lower support comes in at 4300.

NQ Guideline For Thursday

On Wednesday NQ traded sideways above prior day high in a narrow trading range. Without any new buyers or shorts covering their position, it would just be left to the Fed HFT buying machine to slowly push the market higher.

For Thursday, as long as NQ can stay above 4280 the uptrend should continue with the next major resistance at 4320 area, double-top on the daily chart with  December 2014 and January 2015 high.

Breaking below 4280 is an indication NQ is going into a pullback-down mode, the next support is 4267

Greek debt crisis should continue to influence market action on Thursday.

 

NQ Guideline for Wednesday

On Wednesday, Greece's debt crisis should continue to be a major influence on the market price action.

On Tuesday, NQ opened with a gap-up above 3230 key resistance, and as expected, triggered a fast trending move up, breaking above 4260 resistance on its way to 4280 strong resistance, a key price level to watch for on Wednesday.

-- NQ trading below 4280 is an indication it is going into a pullback mode, support is 4255 then 4220. As long as 4220 support is not violated, the uptrend is still alive. 

-- Trading above 4280 is likely to trigger more buy programs, resistances are 4300, 4320 and then 4340.

NQ Guideline For Tuesday

Greek debt negotiation with the EU scheduled to begin on Wednesday should continue to greatly influence price action in the financial markets for a while going forward, until a clear decision has been made.

NQ trade sideways in a very narrow range on Monday, with support at 4200 and resistance at 4230 (4200 - 4230 trading range). 

A clear break out of the range is likely to trigger a fast trending move out of the range in the direction of the break, with the next resistance at 4260 and the next support below 4200 at 4160

NQ Guideline for Monday

After rallying sharply in the morning on Friday NQ reversed and sold-off hard into the close, except for a small profit-taking rally near the closing bell.

Greece potential exit from the European Union is going to be a major negative influence on financial market actions going forward

 

Key price support level for NQ on Monday will be 4200.

-- As long as NQ stays above 4200 sellers would stay on the sideline. A clear break above 4240 is likely to trigger algo buy programs that can catapult NQ up to the next resistance, 4260.

-- Breaking below 4200 could trigger another round of liquidation sell-off, supports are 4160 and then 4100

NQ Guideline For Friday

Thursday was a choppy narrow-range choppy up-day for NQ with the day high bumping up into 4250 resistance, which will serve as key resistance price level for NQ on Friday.

If NQ could not break clear above 4250, it is likely going into a pullback-down mode. If so, support is at 4200.

If NQ can clearly break above 4250, NQ is likely going to trigger another round of short-covering rally, with the next resistance at 4280.

Keep in mind that Friday tends to be a choppy sideways consolidation type of day.

Crude oil price will continue to be a big influence on the equity market trend direction.

NQ Guideline For Thursday

With crude oil price dropping back down after three days of rally, after rallying all day, NQ finally tanked toward the close, dropping down to key support, 4200, a key support for Thursday trading action.

For NQ to continue to rally to higher-high on Thursday, 4200 support should hold in the morning on Thursday. Clearly breaking below 42000 is an indication of weakness and that NQ is going down to the next support level, 4160.

 

The price of crude oil should remain the main determinant of stock market trend direction on Thursday.

NQ Guideline For Wednesday

NQ rally that started from a fifth test of 4080-4100 area support on Monday continued into Tuesday, buoyed by another big rally in the crude oil price, after a brief early morning pullback down to support. 

For Wednesday, as long as NQ can stay above 4160 support and as long as crude oil price can continue to rally, NQ should continue to rally, next resistance is 4250 then 4280

Key inflection price level for NQ on Wednesday is 4200.

-- Bullish above, indicating NQ is headign to the next resistance before consolidating

-- Trading below 4200 is an indication NQ may be going into a larger pullback-down mode, a consolidation, with key support at 4160 before rallying back up again, as long as 4160 area is not clearly violated

 

 

NQ Guideline For Tuesday

With crude oil rallying again on Monday, the second consecutive up-day from the recent low, early morning sell-off in the stock market was aggressively being bought, likely by the central bankers, worried about the potential Greek debt default.

NQ dropped down to key support before mounting over 100 point rally from the day low, breaking through 4160 key line-in-the-sand price level, up to just below 4200 resistance.

Whether or not NQ will continue to rally on Tuesday, will depends on where it trades in relation to it key inflection price level of 4160, and also depends on what happen in the crude oil market.

-- Staying above 4160 is bullish, and should at least go to 4200 resistance. Breaking above 4200 could propel NQ up to the next resistance level, 4230 then 4250.

-- Breaking back below 4160 if accompanied by a sell-off int he crude oil market, is bearish, implying a re-test of the recent low 4080-4100 support zone.

NQ Guideline For Monday

A mostly sideways consolidation day for NQ on Friday until late afternoon when aggressive selling came into the market, tanking NQ down to 4140 support.

On a larger daily time frame, NQ is currently stuck between  4080 support and 4280 resistance, a 200-point trading range, a sustained break out of the 4180 - 4280 trading range is likely to trigger a fast trending move out of the range, in the direction of the break.

Key price level to watch for on Monday remains at 4160, first resistance is 4200 and first support is 4140.

-- NQ is bullish above 4160 but strong resistance remains at 4200. A clear and sustained break above 4200 is likely to trigger algo buy programs targeting next resistance at 4250, then 4280.

-- NQ is bearish below 4160 with first support at 4140, then 4120, 4100 and then 4080. A clear break below 4080 could quickly tank NQ down to 4000.

 

The price of crude oil will remain key to the direction of the stock market. We saw very large buy programs hit the oil market on Friday, pushing oil price up over $4 for the day as trailing stop-loss got hit.