NQ Guideline For Friday

Following a large rally on Wednesday NQ traded was in a consolidation mode on Thursday as it traded sideways in a anrrow trading range. Once consolidation has ended NQ should rally up to a higher-high.

Key inflection price level for NQ on Friday will be 4540.

-- Staying above 4540 is an indication that consolidation has ended and the next upleg is in progress.

-- Breaking back below 4540 implies consolidation is still in progress, supports are 4525 and then 4503.

NQ Guieline For Thursday

Non-stop buy programs likely engineered by the Fed buyers that started at the end of the day on Tuesday and continued on Wednesday that lasted all day with small profit-taking decline near the close pushed NQ up to higher-high above last week Friday swing high.Now NQ has made a higher-high, a sideways consolation or a larger pullback should be coming soon.

Key price level to watch for on Thursday will be 4530.
-- Staying above 4530 in the morning on Thursday is an indication NQ is still in an uptrending mode before pulling back.
-- Trading below 4530 implies NQ is in a pullback /consolidation mode, next supports are 4520 and 4503.

S&P 500 on the other hand, did not break above last Friday swing high

NQ Guideline For Wednesday

As expected, with the 60-minute chart already in a pullback down mode since last week Friday, NQ opened with a gap-down below key support price level, 4520 on Tuesday, then sold-off hard most of the day. The sellign was broad based, with the Dow and the S&P 500 also in strong sell-off mode.

-- The sell-off could continue on Wednesday if NQ could not break-back above 4503 key resistance, Trading below Tuesday morning low is likely to trigger another round of algo sell programs with the next strong support at 4380.

-- In the event that NQ break back above 4503, the next resistance is 4520.

NQ GuidelineFor Tuesday

A sideways consolidation day for NQ on Friday is a potential setup for a larger pullback-down move that could occur on Tuesday that most traders will be back from the long weekend holiday. However, if the Fed buyers are present on Tuesday, instead of pulling back down on Tuesday, we could also see NQ rallying up to another higher-high on.

Key price level for NQ on Tuesday is 4520

 -- Breaking key support level 4520 could trigger a larger pullback down, lower supports are 4503 then 4480.

-- Above 4520 implies NQ is likely going to rally to another higher high.

NQ Guideline For Friday

After briefly trading below 4503 key inflection price level, buy programs was triggered lasting over 1.5 hours, producing a large and fast rally. NQ then traded sideways on profit-taking, eventually breaking above yesterday swing high near the close.

Daily chart is showing uptrend and not yet in overbought territory, and the 60-minute chart is also showing an uptrend but already in overbought territory

Key inflection price level for Friday remains at 4503. 

-- As long as any pullback-down move does not clearly break below 4503 the rally should continue, targeting a higher-high.

-- With the 60-minute time-frame in overbought territory we could see some pullback on Friday, but as logn as pullback does not get out of hand look for 4503 to hold. Breaking below 4503 would target the next support at 4480.

NQ Guideline For Thursday

With both the daily and the 60-minute chart time frame in an uptrend, every NQ decline continued to be bought. and as long as the daily trend is still up, any decline should continued to be bought, but with the 60-minute trend in overbought condition the current up-move continues to be choppy.

Late day buy program by the Fed triggered after the release of the Fed minutes faile to attract any follow-up buying as NQ quickly dropped back down to key price inflection level,4503.

-- Trading above 4503 on Thursday is an indication that the uptrend is still in progress.

-- Trading below 4503 implies larger pullback is likely. If so, the next support is 4475

Trading Guide For Tuesday

After trading sideways for 1.5 hours after the open on Monday, buy programs were finally able to push the market higher, with NQ breaking above key resistance of 4503, and stay above 4503 into the close, setting up a potential gap-up and trend-up day on Tuesday, as long as it stays above key support 4503.

Key support price level for NQ on Tuesday will be 4503.

-- Trading above 4503 is an indication that NQ is still in an uptrend without pulling back.

-- Trading below 4503 implies NQ is going into a pullback-down mode, supports are 4480 then 4460.

NQ Guideline For Monday

A gap-up opening on Friday failed to trigger any short-covering, instead NQ sold off and then traded sideways all day. It should make a directional move on Monday, the direction would depends on where it trades in relation to its key price level of 4503.

-- With NQ in overbought territory on the 60-minute chart it would need to trade above 4503 area to be on the bullish mode. If so, look for another rally day.

-- Trading below 4503 could attract short-sellers, with key support at 4480. A break below 4480 is likely to trigger algo sell programs. Lower supports are 4460 then 4437

 

NQ Guideline For Friday

Another gap-up open on Thursday and this time the buy programs were ready to buy any selling. So, after a brief selloff immediately after the open, buy programs came in full force that lasted all day long.

Buy programs should continue on Friday and as long as any profit-taking decline does not get out of control we should see another up day on Friday.

Key support for NQ on Friday will be 4460

-- As long as pullback down does not clearly violates 4460 support the uptrend should continue.

-- Breaking below 4460 is bearish for NQ, lower support is 4437.

NQ Guideline For Thursday

The Fed buy programs triggered before the open and continued at the open, designed to trigger a short-covering rally, spike NQ up above key resistance price level 4437 but failed to trigger a short-covering rally. Instead, NQ sold off very quickly, and the selling continued all day into the close.

The Fed buyers will surely try to push the market up again on Thursday. Key price level for NQ remains at 4437.

-- NQ remains under selling pressure below 4437.

-- Bullish above 4437, next resistance is at 4475.

NQ Guideline For Wednesday

On Tuesday, After opening with a huge gap-down NQ sold off for about 20 minutes before finding support and then rallied sharply up to close the go then testing key inflection price level 4437 before pulling back down on end of day profit-taking decline.

NQ is now set-up for a rally on Wednesday, and key price level to break is again 4437, it is currently acting as resistance with price still trading below it.
-- NQ needs to trade above 4437 to turn bullish with the next resistance at 4475
-- NQ would remain under selling pressure below 4437.

 

NQ Guideline For Tuesday

A choppy downtrend for NQ on Monday, dropping down below key support price level 4437, setting up a strong down-day unless NQ can break-back up above 4437 area.

Key inflection price level for NQ on Tuesday will be 4437.

-- Trading above 4437 is bullish anc likely to trigger a short-covering rally, first resistance is 4475 then 4500.

-- Bearish below 4437, likely to trigger algo sell programs below 4425, targeting 4400. Selling is likely to intensify below 4400

NQ Guideline For Monday

On Friday with the Fed engineered buy programs triggered before the market open, NQ opened with a huge gap-up above key resistance 4437, then traded sideways but remained above 4437. 

Key price level for NQ on Monday will be 4437.

-- As long as NQ can stay above 4437 NQ will remains in a bullish mode, with resistance at 4475 and then 4500.

-- trading below 4437 will be bearish and could trigger algo sell programs, supports are at 4425 and then 4400

NQ Guideline For Friday

Late day rally on Wednesday continued Thursday morning but then traded sideways in the afternoon, setting up either another rally day on Friday or a down day, depending on where it trades in relation to its key price inflection level.

Key price inflection level for NQ on Friday will be 4400.

-- Bullish above 4400, and the rally should continue to the next resistance level, either to 4425 or 4437.

-- Below 4400, we could see sellers coming back that could tank NQ down to supports 4370 then 4345.

NQ Guideline For Thursday

Wednesday was the third consecutive down-day for NQ, dropped down to support at 4340. Although NQ still has ample room to decline before hitting strong support on the daily chart, it is now likely that NQ would have a bounce up towards 4400 area before resuming the decline.

Key support price level for NQ on Thursday will be 4340.

-- Below 4340 we could see another round of algo sell programs, with the next support at 4300 then 4280.

-- Above 4340 is an indication NQ may want to rally up to resistance at 4400 before resuming the downtrend.

NQ Guideline For Wednesday

NQ opened below key inflection price level of 4475 on Tuesday and then sold off all day breaking below key support 4437 on its way down to 4400 whole number support.

With NQ now back to just above prior swing low the stage is set of either a bounce in the morning  on Wednesday or a sell-off. It will depends on where it trades on Wednesday morning.

Key price level for NQ on Wednesday will be 4000 support.

-- Staying above 4400 is likely to trigger some profit-taking rally, up to resistance 4425 or to 4437 before crashing below 4400 support.

--  Trading below 4400 is likely to trigger another round of algo sell programs, supports are at 4350 then 4300.

NQ Guideline For Monday

Friday's rally for NQ stopped just below key resistance 4475, which will be Monday's key inflection point for NQ.

Trading above 4475 is bullish and has the potential to trigger short-covering rally

Failure to break clear above 4475 could attract short-seller hat could send NQ back down to 4450 and 4435 support area.