NQ Guideline For Wednesday

After trading sideways the entire morning and lunch hour NQ broke below critical support in the afternoon and, trigger lgo sell programs that tank NQ all the way down to 4330 support where it closed. 

The trade direction for NQ on Wednesday will depends on where it trades in relation to 4330 support.

-- Below 4330 is an indication NQ is likely to trade down to re-test recent swing low of 4280.

-- As long as NQ can stay above 4330 Tuesday's late day selloff has ended. If so, NQ is likely ging to rally back up to 4380 resistance.

NQ Guideline For Tuesday

A large opening gap-up on Monday, and then traded sideways with a slight upward slant, either setting up a pullback in the morning, or perhaps Monday was a running correction as short-sellers got trapped, if so, it is a set-up for an opening gap-up on Tuesday or an open-drive up on Tuesday.

In any case, key price level to watch for on Tuesday is 4375.

-- Trading above 4375 is an indication NQ is going to trend upwards. If so, the next resistance is 4410.

-- Below 4375 implies NQ is likely in a pullback mode, downside target is 4350. Breaking below 4350 will put NQ into a bearish mode, next support is 4330-4340.

NQ Guideline For Monday

A choppy sideways consolidation day for NQ on Friday as short-sellers took profit going into the weekend. Monday will be the beginning of the new week, thus what traders will do will depends on where NQ trades in relation to key technical levels.

Key support for NQ on Monday will be 4305, and key resistance will be 4340.

-- Although I don't expect Monday to be a choppy sideways consolidation day, however, if NQ trades between 4305 and 4340 it sould remains choppy.

 -- Successfully breaking out of the 4305-4340 range implies a trending move in the direction of the break.

-- A false breakout of the 4305 - 4340 range is likely to result in a fast reversal.

NQ Guideline For Friday

On Thursday NQ opened with a huge gap-down but then rallied back up to close the gap before pulling back down into the middle range into the close.

Key price level for NQ on Friday will be 4300.

-- On Friday as long as NQ can stay above 4300 support level NQ should continue to rally or trade sideways. Key resistance is 4340

-- Breaking back below 4300 is likely to trigger another round of algo sell programs.

NQ Guideline For Thursday

A wide-range down day for NQ on Wednesday. NQ opened and then broke below key support which triggered massive algo sell programs that tanked NQ down very hard, crashed through several support levels. The selling continued all day into the close.

Whether or not NQ would sell-off again on Thursday or consolidated the large decline would depends on where NQ trades in relation to its key price level

Key price level for NQ on Thursday will be 4345.

-- Failure to clearly rally above 4345 is an indication NQ is likely to continue to go down to lower level before consolidating. The next support level is 4300 and then 4280.

-- Clearly trading above 4345 implies NQ is going into a pullback-up mode.

NQ Guideline For Wednesday

On Tuesday NQ again rally in the morning but its inability to break clear above key resistance attracted short-sellers. Selling continued in the afternoon and into the close. 

The direction of Wednesday's trend will depends on where NQ would trade in relation to 4430 key support.Keep in mind that NQ 60-minute trend is down

-- Staying above 4430 could attract some buyer, pushing NQ back up to 4460- key resistance.

-- Breaking clear below 4430 support could trigger another round of algo sell programs. The next support is 4410 then 4400.

NQ Guideline For Tuesday

NQ traded sideways in the morning and into early afternoon only to get sold late in the afternoon and into the close. 

Key resistance for NQ going into Tuesday's trading will be 4460, and key support will be 4430.

-- If NQ can stay above key support and strong support zone between 4430-4435 area then NQ should rally back up and make a higher-high above Friday swing high. However, to do so, NQ would need to break above 4460 resistance and then trigger some sort of algo buy programs that triggers short-covering to catapult NQ up to above Friday's swing high.

-- Breaking below 4430 is an indication NQ uptrend may have reversed, and that NQ is likely to drop back down towards supports at 4300 area.

Gold, Silver, Euro Fx, Crude Oil, may have bottomed 

 

NQ Guideline For Monday

The Fed buying binge on Thursday night resulted in a huge opening gap-up on Friday, but without any new buyers profit-taking in the afternoon pushed NQ down into the close. Whether the afternoon declien is just a profit-taking pullback or the the start of a trend reversal, will depends on where NQ will trade on Monday in relation to it key inflection price level.

Key inflection price level for NQ on Monday is 4450

-- Trading above 4450 is an indication Friday's afternoon decline is just a pullback, and that NQ should resume its rally into another higher-high above Friday's swing high.

-- Trading below 4450 implies NQ is either going into a larger pullback-down move before resuming its uptrend, or the beginning of a downtrend. Next support is 4430

NQ Guideline For Friday

As expected, with NQ not able to break above 4430 key resistance on Thursday it went into sideways narrow-range consolidation day, typical after a large-range up-day on Wednesday.

Once consolidation has ended, the uptrend should resume. Whether or not NQ would resume its uptrend on Friday will depends on if it can break and stay above 4430 key resistance.

Failure to break and stay above 4430 is an indication that consolidation is still in progress, and that NQ may go into a larger consolidation / pullback down, with lower support at 4385.

NQ Guideline For Thursday

On Wednesday NQ sold off ahead of the FOMC policy announcement in the afternoon. A massive and relentless buy programs by the Fed pushed NQ up by 100 points from the day low, bumping against overhead resistance, 4430.There was a small profit-taking decline near the close

Whether or not NQ is going to consolidate the big rally on Wednesday, only time will tell and will depends on where it trades in relation to key resistance on Thursday.

For Thursday key resistance for NQ will be 4430.

-- NQ will be bullish above 4430 but it would need a clear break above 4465 to potentially trigger algo buy programs.

-- Trading below 4430 is an indication NQ is going into a pullback mode.

NQ Guideline For Wednesday

Rally in NQ continued on Tuesday ahead of the FOMC policy decision announcement on Wednesday afternoon, a decision that can either continue to send the stock market upward or reverse it back down again. To see the market reaction to whatever the Fed decides on Wednesday, we will have to wait.

 

Key price level for NQ on Wednesday will be 4355 area.

-- As long as any pullback-down move in NQ can stay above 4355 NQ uptrend on the daily chart is still alive. 

-- Clearly breaking below 4355, however, is an indication the current uptrend on the daily chart has paused, but as long as NQ can stay above 4340 during the pause or consolidation, NQ uptrend should resume after consolidation.

-- Clearly breaking below 4340 implies the current uptrend that started from March 13 swing low has ended, and that NQ downtrend has resumed.

NQ Guideline For Tuesday

Daily downtrend that started from the high on March 02 has ended on Monday with a clear break above 4340. The downtrend has ended and NQ is now technically in an uptrend on the daily chart and would remains so as long as Monday's swing low is not violated.

FOMC will begin its 2-day policy meeting on Tuesday with the policy decision to be announced on Wednesday afternoon. 

 

Key support price level for Tuesday's trading will be 4340.

-- As long as 4340 is not violated on any down move, NQ should remains in a bullish uptrending mode, next resistance is at 4380-4085 area.

-- Breaking below 4340 will put the current uptrend in jeopardy and is an indication NQ may go back down to re-test its recent swing low, which is last week Friday's swing low.

NQ Guideline For Monday (march contract price level)

NQ is currently in a downtrend on the daily chart. Going into Monday trading session, as long as NQ rally remains below 4345 (March contract) the trend on the daily chart will remain in a down trend. 

Breaking above 4345 will terminate the current downtrend, and will cause NQ to go into a pullback-up mode or a reversal in trend from down to up.

Heading into Monday trading session, the short-term 5-min key inflection price level will be 4300.

-- Potentially bullish for NQ if trading above 4300, next resistance is 4325, then 4345.

-- Trading below 4300 is an indication NQ downtrend on the daily chart is still in progress, next target is a break below Friday low. A sustained break below Friday low could set up another round of algo sell programs, next support level is 4250 then 4200.

Key to stock market direction on Monday will be the price of crude oil, which currently is trying to break below prior swing low of about $44 per barrel.

NQ Guideline For Friday

NQ finally found support in the morning at 4300, then spent the rest of the day rallying in a very choppy fashion, clearly short-covering ahead of the weekend. NQ would need to clearly break above 4345 to potentially trigger algo buy programs.

Key inflection price level for NQ on Friday will be 4330.

-- Bullish above 4330, but key resistance is at 4345. A sustained break above 4345 has the potential to trigger algo buy programs. If so, resistance are at 4370, 4380, 4390, 4400.

-- Bearish below 4330, support is at 4300. A sustained break below 4300 has the potential to trigger algo sell programs.  

NQ Guideline For Thursday

Another down day in the market on Wednesday, with NQ breaking through various support zone, an indication that selling pressure is extremely strong and likely to continue.

Looking for more of the same for Thursday unless NQ can break above and stay above key resistance price level of 4345.

NQ Guideline For Wednesday

A strong sell-off day for NQ on Tuesday, crashed through 4345 strong support. Stronger support lies at 4320 area. Whether or not 4320 support is going to hold only time will tell, and we just have to see what happens on Wednesday.

Key inflection price level for NQ on Wednesday will be 4345.

-- Trading above 4345 is an indication the sell-off has paused, leading NQ to either a sideways consolidation or a rally.

--  Staying below 4345 is bearish, and could lead to more algo selling, next support is 4320, then a whole series of potential supports, 4300, 4285, 4275, 4250.

NQ Guideline For Tuesday

A narrow-range sideways consolidation inside day for NQ on Monday. Still in a choppy pullback mode on the daily chart, where NQ will trade on Tuesday will depends on where it trades in relation to key price level, 4425 for Tuesday.

-- A sustained break above 4425 could trigger some algo buy programs, next resistance is 4465.

-- Staying below 4425 is an indication that NQ is either still in consolidation or ready to trend back down again. 

-- NQ needs a sustained break below 4390 to trigger another round of algo selling, strong support is 4340 area, prior high on the daily chart.

NQ Guideline For Monday

A large-range pullback down-day for NQ on Friday. NQ is now in pullback down mode on the daily chart. As long as NQ stays below 4450, look for sellers to stay in control..

Key inflection price level for NQ on Monday will be 4405.

-- Below 4405, look for more selling in NQ, next strong support is 4345, although there are several weak support above 4345.

-- Above 4450 is an indication NQ is in a rally mode, but it needs to clearly break above 4450 to trigger some algo buy programs .

NQ Guideline For Friday

Another sideways consolidation day for NQ on Thursday. Although the current uptrend on the daily chart is still alive, NQ would need to push higher higher on Friday in order to keep the uptrend alive.

Failure to rally to higher-high on Friday could put the current uptrend in jeopardy, and could attract algo sell programs, with the decline target down to a re-test of the breakout level 4345.

Key inflection price level for NQ on Friday will be 4445.

-- Bullish above 4445, with first resistance at 4465

-- Bearish below 4445, with first support at 4430

NQ Guideline For Thursday

Wednesday was the second pullback-day within the current uptrend. Given the strength of the current uptrend, after two consecutive pullback days, NQ should resume its uptrend on Thursday.

If so, NQ should break and rally above 4450 key inflection price level for Thursday, and then rally to a higher high above Monday's swing high.

Failure to rally on Thursday is an indication NQ may be going into a larger pullback mode.

NQ Guideline For Wednesday

NQ traded sideways on Tuesday, down in the morning breaking below key inflection price level, and then rally in the afternoon, back up to key inflection price level, and that was where NQ closed for the day.

On Wednesday key inflection price level is again 4460

-- Trading above 4460 is an indication that pullback-down mode has ended and that NQ uptrend on the daily chart has resumed, next target is a higher-high above Monday's swing high.

-- Staying below 4460 implies NQ is still in a pullback mode, supports are again at 4445 and 4430.

NQ Guideline For Tuesday

Another choppy narrow-range up-day again on Monday. With the Fed determined to create a sense that everything is alright by pushing the market up and up, the pattern of choppy narrow-range up-day should continue for while, the technical upside target is about 4600. 

At the current rally pace it could take a while to get there. On the daily chart, NQ has to clearly break below 4325 to invalidate the upside target 

Key inflection price level for Tuesday will be 4460

-- As long as NQ can stay above 4460 look for another higher-high

-- Trading below 4460 is an indication NQ is going into a pullback mode.

Bull-Bear difference over 30 is a an early warnign that market correction is not too far away, reading above 40 implies market correction could come at any time. Current reading has just broken above 40.

NQ Guideline For Monday

Friday was the fifth day of sideways consolidation trading pattern as NQ finally consolidated the non-stop, albeit, slow rally since the breakout above November 2014 swing high.

The current consolidation phase could either be a setup for the next up-leg or a prelude to a larger pullback. Whatever it may be, Monday's key inflection price level will be 4450.

-- Trading above 4450 is an indication NQ is likely going to another higher high, above the recent high.

-- Inability to clearly break above 4450 implies either more sideways consolidation as long as NQ can stay above 4430. Breaking below 4430 could attract some algo sell programs, with the next lower support at 4415.

Port Strikes and market collapses