NQ Guideline For Wednesday

Following an extreme bearish down-day on Monday NQ went into a consolidation mode on Tuesday, trading sideways, a setup for a sharp selloff and it could happens on Wednesday. NQ would need to stay above 4400 price level to avoid sharp sell-off.

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

-- Trading above 4400 would imply that NQ is in a neutral to bullish mode, with resistances at 4420, 4440, and 4460.

-- Trading below 4400 will keep NQ in a bearish mode but NQ would need to break and stay below 4370 to trigger heavy selling.

NQ Guideline For Tuesday

A large gap-down open on Monday and after a brief rally, sold off hard all day long and closed near the low of the day, setting up another sell-off day or a consolidation day depending on where NQ trades in relation to key price level on Tuesday

For Tuesday key price level for NQ will be Monday's low 4368.

-- Trading below 4368 could attract another round of liquidation decline with support at 4330, 4300, then 4275.

-- Trading above Monday's swing low is an indication that the decline may have paused and that NQ may be going into a pullback mode. If so, the first resistance is 4400 then 4420.

Black Monday Alert

As the end of Greeks debt bailout program scheduled to end on June 30th came closer, traders around the world are already betting that the EU is not going to renew the interest repayment loan agreement. The Dow Futures contract opened with a 300 points down as globex opened today, setting up a potential black monday stock market crash scenario, unless of course cooler heads prevail, and extends greeks bailout program overnight combined with the plunge protection team coming in to aggressively buy the market overnight. Without either one look for the market to selloff monday.

Key price level for NQ on Monday will be 4460 area, but keep in mind that with increased volatility supports and resistance may get temporarily penetrated.

-- NQ needs to get back and stay above 4460 to turn NQ into neutral mode, with key resistance at 4500.

-- Below 4460 NQ is in freefall, supports are first 4400 then 4350 and 4300.

NQ Guideline For Friday

Still unable to break above triple-top, seller came in on Thursday and sold the market hard, a down-day for NQ on Thursday, the second pullback-down day in a row for NQ.

Unless NQ can breakout above 4525 it would remain in a sell mode, with key support at 4500, trading range will be 4500 - 4525

-- With many trailing stop-loss residing just below 4500, a sustained break below 4500 has the potential to trigger algo sell programs that could tank NQ quickly down to the next support zone at 4460-4470.

-- If NQ can break and stay above 4525 it has the potential to trigger short-covering, next resistance is Wednesday's swing high.

-- Remaining inside 4500-4525 trading range implies choppy sideways price action, a typical pattern for Friday as traders squares their book.

NQ Guideline For Thursday

After making another higher-high NQ sold off hard all day long and closed at the low of the day. This pattern of pump-and-dump has been happening for a while, and represents a topping pattern, with insiders selling every record high.

Key price inflection level for NQ on Thursday will be 4535.

-- Unless NQ can break-back and stay above 4535 we could see another sell-off with the next support at 4505, then 4495 and 4460.

-- Above 4535 NQ could try to make another higher-high.

Swiss Franc against the Euro

NQ Guideline For Wednesday

Another sideways price action for NQ on Tuesday, trading below triple-top, unable to breakout above it. Unless the Fed buyers can successfully engineered a clear and sustained breakout above triple-top high, NQ may need to pullback down to support and suck in more short-sellers that would fuel the rally on a breakout above the high.

Key price level for NQ on Wednesday will be 4550 price zone (triple-top) resistance and 4530 support.

--  Breaking out above 4550 resistance has the potential to trigger more buying activities that can cause an up-trending day.

-- Breaking below 4530 could trigger algo sell programs that can quickly tank NQ down to 4470 support.

NQ Guideline For Tuesday

Relentless overnight buy programs designed to panic the shorts right at the open, in order to trigger a short-covering rally, gaped-open NQ up to above Friday's swing high, but it failed to trigger any major short-covering as NQ failed to clearly breakout above the triple-top high. Eventually sellers came in and sold, taking NQ down to below early morning low, then traded sideways into the close.

Now that there was some kind of agreement on Greeks debt repayment situation, Tuesday is either a rally day or a sell-off day depending on where it trades in relation to its key price level.

Key price level for NQ on Tuesday will be Monday's high 4553.

-- Trading below 4553 has the potential to attract enough short-sellers to tank NQ down to below 4530 support. Breaking below 4530 could trigger longs liquidation, next support 4505 and then 4470.

-- NQ needs to clearly break above 4553 and then stay above 4553 to trigger another round of short-covering.

NQ Guideline For Monday

A down-trending day for NQ on Friday as it pulled back down from 4550 triple-top resistance zone. Unless the Fed buyers can push NQ price back up above Friday's swing high it could continue to pullback-down to lower support zones on Monday. 

Keep in mind that the financial situation in Greece, unless the EU can agree to Greek's demand, and continue to pay Greeks bondholders, the situation can get out of control and can cause cause havoc in global financial market.

Key inflection price level for NQ on Monday will be 4505.

-- Bullish above 4505 area, bit it would need a sustained break above Friday's swing high to trigger short-covering rally. 
-- Bearish below 4505 with supports at 4475, 4465 and 4440

The next European Financial Crisis has begun

NQ Guideline For Friday

A large up-trending day for NQ on Thursday, likely as a result of massive buying campaign by central banks ahead of the important decision on Greek debt repayment this weekend. Whether or not the buying campaign will continue on Friday or will they let the market consolidate the huge gain, only time will tell.

Key price level for NQ on Friday will be 4535.

-- Trading below 4535 is an indication NQ is in a pullback mode, first support at 4500

-- A sustained break above 4535 implies NQ is continuing to trend up, with the next resistance at 4551.

NQ Guideline For Thursday

After a sideways price action in the morning on Wednesday NQ trend-down ahead of the FOMC policy announcement, but the Fed buyers came in with a vengeance buying aggressively to push the market back up right after the policy announcement

As usual, end of day profit-taking came in near the close took NQ back down to the middle of the trading range. Whether or not the end of day decline was just profit-taking or the resumption of a downtrend, only time will tell, and will depends on where it trades in the morning on Thursday.

Key inflection price level for NQ on Thursday will be 4440

-- With NQ trading above 4440 at the end of the day Wednesday, as long as it can stay above 4440 on Thursday NQ is still in a bullish mode.

-- A sustained break below 4440 could trigger algo sell programs that could tank NQ down to re-test June 15th double-bottom low.

NQ Guideline For Wednesday

After a choppy early morning trading price action on Tuesday NQ resumed its rally that started on Monday morning, breaking yet again above resistance and closed near the high of the day. 

Ahead of the released of the FOMC 2-day meeting policy statement in the afternoon the Fed would surely be actively buying the markets. Whether or not they will be successful in driving the market higher only time will tell.

Key price levels to watch for on Wednesday will be 4430 support and 4455 resistance.

-- Bullish above 4455 resistance, next resistance above is 4470 then 4480

-- Bearish below 4430 support. Lower supports are 4410 and then 4390

NQ Guideline For Tuiesday

On Monday, after opening with a huge gap-down and then dropping down to double-bottom support with June 9th swing low.NQ rallied the rest of the day breaking back up to above 4420 resistance and then closed above 4420 now acting as support.

Key inflection price level for NQ on Tuesday will be 4420.

-- Trading above 4420 is an indication the rally is still in progress before pulling back down. Next resistance is 4455.

-- Trading below 4420 implies NQ is either going into a consolidation mode or a resumption of downtrend. A resumption of the downtrend target a break below double-bottom low.

NQ (September Contract) Guideline For Monday

A gap-down open and a trend-down day for NQ on Friday. After dropping down to support, NQ traded sideways on profit-taking activities.

Come Monday, NQ can trend again if it can break out of the 4440 - 4470 trading range. Failure to get a sustained break out of the range can result in a sideways consolidation pattern  

NQ Guideline For Friday

Following two large up-days in a row NQ went into a consolidation mode on Thursday, as it traded sideways in a narrow trading range, setting up either a trending up day or more consolidation, as long as it can stay above 4475 on Friday.

A clear and sustained break below 4475 however, could trigger another round of liquidation sell-off

NQ Guideline For Thursday

A very large up-day for NQ on Wednesday, with bullish opening that quickly broke above key resistance triggering massive algo buy programs that lasted all day into the close.

It is likely Wednesday's large up-move may need to be consolidated. If so look for NQ to remain below 4503 key resistance price level and above key support at 4475 (4475 - 4503 range).

A sustained break above key resistance or below key support could trigger a trending move in the direction of the break

The S&P 500 rallied at the open and continued its upward trend through most of the morning.

NQ Guideline For Wednesday

On Tuesday after a sharp sell-off soon after the opening bell, NQ rallied sharply breaking above the morning high before pulling back down into the close, but remained above the open, setting up a potential up-day on Wednesday, if it can break above key resistance of 4450.

Key inflection price level for Wednesday in NQ is 4423.

 --Trading above 4423 will relieve some of the selling pressure but NQ would need to break-back and stay above 4450 to continue to rally, next resistance is at 4475. Failure to break-back and stay above 4450 could attract short-sellers.

-- Trading below 4423 is likely to trigger large algo sell programs that could tank NQ back down, first support is Tuesday's swing low.

NQ Guideline For Tuesday

A sharp sell-off in the equity market on Monday with NQ selling off hard right from the opening bell. Late day profit-taking failed to produce a sustained rally as NQ close near the low of the day.

Key price level for NQ on Tuesday will be 4420.

-- Trading above 4420 implies a potential rally or a sideways consolidation price action, with the first resistance at 4455, and key resistance at 4475.

-- Trading below 4420 is likely to attract more short-selling

NQ Guideline For Monday

After a sharp early morning decline right after the open on Friday that was followed a sharp rally NQ traded sideways for the rest of Friday, setting up a big move for Monday, the direction will depends on where NQ will trade in relation to its key price inflection level.

For Monday key price inflection level for NQ will be 4475.

-- Bullish above 4475, with key resistance at 4503. A clear and sustained break above 4503 is likely to trigger a short-covering rally. Failure to break and or stay above 3503 could attract short-sellers.

-- Bearish below 4475 with first support at 4455.

NQ Guideline For Friday

NQ continued to trade inside the established trading range that it has been stuck in for the last 5 trading sessions. A sharp downtrend in the morning on Thursday broke below the 4485 support down to 4475 key support before rallying strongly into the close.

Without further massive buy programs by the Fed could cause more selling on Friday, and a break below 4475 could trigger massive selling.

The Greek debt default on Friday could trigger a lot of selling but there is no doubt the fed will be ready to support the market. How successful will they be, only time will tell.

Key price level for Friday will be 4475 support. 

-- Bearish below

-- Bullish above

NQ Guideline For Thursday

NQ remained inside the 4485- 4540 trading range on Wednesday for the 5th day in a row. Its morning rally up to 4540 resistance in the morning failed to breakout above it. Profit-taking sets in as NQ traded sideways all day and into the close.

4540 remains key price level for NQ on Thursday.

-- A sustained break above it could trigger some short-covering rally

-- Staying below 4540 could attract short-selling with key support at 4515. A break could trigger algo sell programs, with supports at 4503 then 4485.

NQ Guideline For Wedensday

NQ remained inside the 4485-4540 trading range on Tuesday, trading sideways, the largest range was the morning rally that was followed by the afternoon decline.

-- As long as NQ remains inside the 4485 - 4540 trading range on Wednesday it should continue to trade sideways.

-- With the close right in the middle of the range, we'll be on the lookout for a potential false breakout of the range that can result in fast reversal. A sustained break out of the range, however, would lead to fast trending move out of the range.

NQ Guideline For Tuesday

On Monday NQ opened with a gap-up but immediately began selling off sharply in the morning before bouncing off 4485 support, and rallying back up to above key inflection price level 4525. 

After trading sideways in the afternoon above 4525, NQ came down to close just below 4525 key inflection price level, setting up either a rally, sell-off or just sideways movement just like on Monday, depending on where it trades in relation to key support and resistance.

Key inflection price level for NQ on Tuesday will be 4525, key support is 4585 and key resistance is 4540.

-- Trading above 4525 is bullish but it needs to break and stay above 4540 to trend upward.

-- Trading below 4525 is generally bearish for Tuesday but it needs to break and stay below 4485 to trend down.

-- Trading inside the 4485  to 4540 price range is an indication NQ may continue to chop sideways inside the range.