NQ Guideline For Wednesday

NQ traded sideways in a consolidation pattern above support, eventually manage to make a slight higher high above Monday high before pulling back down a bit into the close.

 

With no new buyers left to buy and push the market up in a strong fashion, unless the Fed trigger a big buy programs on Wednesday we can expect another choppy consolidation day again, and as long a support is not clearly violated, we should see another higher high.

 

Key support for NQ on Wednesday will be 6225.

 

President Trump is expect to announce the next Fed Chairman on Thursday. President Trump is expected to nominate Jerome H. Powell as the next chairman of the Federal Reserve, replacing Janet L. Yellen, whose term expires early next year, according to two people familiar with the plans.

 

NQ Guideline For Tuesday

As expected, following a trending up day on Friday NQ traded sideways in a consolidation pattern on Monday, with first making a higher high in the morning then pulling pack down a traded sideways most of the day.

 

With Friday being a very large up trending day it is possible for NQ to spend another day of consolidation before resuming its uptrend.

 

Key price level for NQ on Tuesday will be 6225, a balance price level.

-- Staying above 6225 is going to keep selling under control, and a higher high is likely.

-- Breaking back below 6225 implies a continuing consolidation and deeper pullback, first support is 6175

 

Target for the Fed buy programs now seems to be Apple computer symbol AAPL

NQ Guideline For Monday

On Friday, the Fed buy programs was finally successful in triggering a gap opening above breakout price level, prior wing high, 6130 for NQ, and triggering a short-covering rally.

 

With so many short sellers stuck in their short position, the Fed now does not need to intervene so aggressively, as the shorts will be buyers of any pullback down decline, as long as NQ remains above breakout price level of 6130.

 

Going forward, key price level for NQ will be the breakout price level 6130. As long as price remains above 6130 look for any decline to be bought.

 

On the short term timeframe, key support is 6180

-- As long as pullback down move on Monday does not clearly breach 6180, look for NQ to either rally or consolidate sideways above 6180.
-- If for whatever reason, pullback down move should clearly break below 6180, as with an extremely manipulated market, anything is possible, the next support is 6130, and it should be a strong support.

NQ Guideline For Friday

On Thursday, NQ traded sideways all day in a very narrow range until the cash market has closed and after most traders had left the office. Then all of a sudden massive buy program designed to influence the market action on Friday hit the futures market, with NQ rallying almost 50 points in a span of fifteen minutes, clearly a manipulated market.

 

Whether or not the rally is going to continue on Friday, it is difficult to forecast, and we just have to wait for the Friday morning price action, because it is a highly manipulated market.

 

For Friday key price level for NQ is 6090.

-- Trading above 6090 should keep sellers at bay, thus NQ can continue to rally to the next resistance  which is at 6130.

-- Staying below 6090 could attract selling. If so the next support is at 6055. 

NQ Guideline For Thursday

Topping/distribution price actions continued on Wednesday, with insiders downloading their long position in the morning then pumping it back up again in the afternoon.

 

Looking for the topping price actions to end by late November to early December before the bear market begin, with the first down-leg lasting 2 to 3 months and dropping down to 38.2% Fibonacci retracement level before a big bounce.

 

On the short term intraday timeframe, key price level for NQ on Thursday will be 6070, acting as resistance at the close on Wednesday.

-- If NQ can trade above 6000 in the morning on Thursday short-covering should push NQ higher to the next resistance at 6090 then 6105.

-- Failure to break back above 6070 could attract new round of selling, with first support at Wednesday's swing low.

 

Markets Await Trump’s Decision on Fed Chair

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NQ Guideline For Wednesday

After briefly breaking below prior day low and dropping down to just above double-bottom support with October 19 swing low, buyers were able to push NQ back up. to 6090 resistance.

 

6090 will now be key resistance for NQ on Wednesday.

-- Failure to break back above 6090 is likely to attract selling, with first support at double-bottom 6051.

-- Breaking back above 6090 should keep selling under control, next resistance is 6105   

NQ Guideline For Tuesday

The stock market sold off on Monday, with NQ selling off the most in percentage term, even with the overnight buy programs that was designed to cause a gap-up opening and a run-up short-covering rally for Monday.

 

NQ opened with a gap-up that was sold immediately, selling lasted all day long, NQ retreating after rcently hitting upper trend line resistance and overbought condition. NQ may be on its way to lower tend line channel support now at 5950, with some strong supports along the way at 6050 and also at 5975.

 

Key price level for NO on Tuesday will be 6090, now acting as resistance.

-- Failure to clearly break back above 6090 is likely to attract more selling, with critical support at Mondays swing low.

-- Breaking back above 6090 will keep selling at bay, and may trigger some short-covering.

-- Should NQ clearly break below Mondays swing low, it is likely to attract heavy selling., supports are 6050 and 5975.

 

The beginning of a bear market could be just 1 to 2 month away

NQ Guideline For Monday

After hitting upper trend-line resistance, and in overbought condition on the daily chart on Wednesday last week, then pulling back on Thursday, as expected, NQ traded in a choppy sideways consolidation type of day on Friday.

 

Going forward, unless NQ can clearly break above trend-line resistance and trigger some major buying activities, selling may start to overwhelm buying activities, pushing NQ back down to supports, first major support on the daily chart is 6030.

 

On the short term intraday timeframe, key price level for NQ on Monday is 6105.

-- Staying above 6105 is going to keep selling under control, implies a high probability NQ will make another higher high above recent high before heavy selling sets in.

-- Breading back bellow 6105 could lead to more selling, next support is 6070. Markets internals needs to be very bearish for NQ to break below 6070.

 

As Fiat Paper money regime gets closer to the end, Bitcon price continues to surge higher and higher by the day..

 

NQ Guideline For Friday

There was some short-selling ahead of the opening bell on Thursday for the 30th anniversary of the 1987 stock market crash. People’s Bank of China Governor Zhou Xiaochuan warned against a sudden slide in optimism that could trigger a jolting collapse in asset prices, a Minsky Moment.

Clearly, the Fed is not going to let that happen as buy programs hit the market immediately after a short bust of selling at the open.

 

But the stage is now set for more selling to come as topping action gets closer to completion, eventually culminating in a crash likely just like the crash of 1987.

 

On the short term intraday timeframe, key price level for Friday will be 6100.

-- A break-back above 6100 is likely to trigger some short-covering, targeting a break above recent swing high before selling come back in.

-- Failure to break back above 6100 could attract more selling, but Friday tends to be choppy sideways pattern type of day, so we can expected a sideways trading pattern unless it breaks below Thursday swing low that is accompanied by bearish market internals

NQ Guideline For Thursday

While NQ and S&P 500 traded sideways in a choppy narrow-range trading action on Wednesday, the Dow surges strongly into another higher high, an indication that the market breath is getting really bad, and the market top is really not too far away.

 

Still expecting the market to top in between late November to early December 2017. Until then, looking for the market to continue to rally or trade sideways as the market nears the end of distribution pattern.

Steven Mnuchin has a stern warning for Congress: Pass the Trump tax bill or we'll crash the stock market, and then blame congress. Several events, including the tax bill, are setting up for a spectacular market crash.

 

On the short term timeframe, support for NQ on Thursday will be 6115.

-- Remaining above 6115 is an indication NQ is going to make another higher high before selling comes in to push the market down.

-- Trading below 6115 has the potential to trigger some selling that could take NQ down to lower support zones, either to 6100 or lower to 6085. It would need a very bearish market internals to break below 6985 support.

 

 

NQ Guideline For Wednesday

Another slow narrow range and choppy up day on Tuesday with NQ barely making it to higher high. With no more buyers left to buy except the Fed and no sellers as everyone is bullish, the stock market is going to continue to chop higher until the majority of market participants realize that the Fed will not be able to hike interest rate in December as promised because the economy is really weak.

 

Then when the Fed failed to deliver the rate hike as expected, then everyone is going rush to the crowded exit, and the market is going to reverse violently

 

Short term support price level for NQ on Wednesday will be 6110.

-- NQ is likely to make a new higher high as long as 6110 support does not get clearly violated.

-- Breaking below 6110 could trigger some selling.  .

NQ Guideline For Tuesday

The stock market continued to stair-step higher on Monday in a very choppy narrow range type of day as there is really no more buyer left, except the Fed themselves pushing the market up ahead of the coming devastating bear market decline.

 

As long as NQ does not clearly break below support, look for NQ to continue to rally to another higher high on Tuesday

 

Key support for NQ on Tuesday is now at 6100.

-- If NQ can stay above 6100, look for a choppy rally to higher high , before pulling back down to support or after a pullback down to support.

-- A sustained break below 6100 could trigger some selling, supports are 6085 then 6075. Either support price level can reverse NQ back up again as long as market internals does not get extreme bearish.

NQ Guideline For Monday

NQ traded sideways in an extremely narrow trading range on Friday simply because there are no more buyers of stocks, as everyone is already long the stock market. Unless the Fed trigger large buy programs on Monday the stock market is going to chop its way up.

 

The current bull market is losing its rally momentum, a typical topping pattern, and ready to commence its bear market decline very soon, the expect target time period is the end of November to early December.

Key support price level for NQ on Monday is 6090.

-- Looks for NQ to make another new higher high on Monday before insiders selling come in, and as long as NQ can stay above 6090. If so the next resistance is 6125.

-- Selling could come in with a sustained break below 6090.

NQ Guideline For Friday

Distribution price action continued on Thursday, with every morning higher high getting sold by market insiders as they continue to download their long position ahead of the bear market.

 

Key support for NQ on Friday will again be 6070.

-- If NQ can stay above 6070 it is likely to make another higher high before selling comes back in and push the market lower.

-- Trading below 6070 is likely to cause a sideways price action with lower support at 6040, as long as market internals do not get too bearish..

 

Another sign the economy is weakening, GM announced they are to Close their manufacturing Plant for 6 Weeks, Lay Off 1,500 Workers

NQ Guideline For Thursday

Another narrow-range up trending day for NQ on Wednesday, closing at 6082.25. With the next strong resistance not until 6120 on the daily chart, NQ could continue to chop its way to resistance, that is, as long as it does not break key support,  currently ay 5980 on the daily chart before heavy selling comes in..

 

On the short term timeframe, inflection price level is now at 6075.

-- Trading above 6075 implies a new higher high for NQ is a high probability event on Thursday before insiders selling comes back in.

-- Breaking back below6075 is an indication NQ is lower support at 6060 then 6040 which is a key short term strong support..

Fed rate-hike odds for December are lower after the Minutes (down from around 80% to 73%) as Fed officials' concerns about non-transitory low inflation sparked a dovish drop in the dollar and pop in precious metals..

 

It will not be until the end of November to early December before the market realize that the Fed will not hike rate in December, and then trigger violent market reversal as participants reverses their portfolio all at the same time.

NQ Guideline For Wednesday

Topping/distribution price action continued on Tuesday, with the insiders pumping the stock market up to higher high so that they can dump their long position on unsuspecting investors.

 

This type of price action, higher high followed by pullback decline should continue for while longer until they have downloaded sufficient amount of their holdings before letting the bear market to commence.

 

On the short term time frame key inflection price level for NQ on Wednesday will be at 6070 again.

-- Trading back above 5070 is likely to get NQ to another higher high before selling pushes it back down again.

-- below 6070 implies a sideways or a down trending move down to support again, with first support at 6040, then if that does not hold the next lower support is 6020.

NQ Guideline For Tuesday

With the global financial market wrongly pricing in another interest rate hike by the Fed in December, a NO interest rate hike in December which is a very high probability event,  is going to collapse global financial market, and crash the stock market.

 

Ahead of the coming inevitable financial collapse, today European Central Bank Governing Council member Klaas Knot warned that Financial markets may be underpricing global risks, leaving them vulnerable to a major correction

NQ traded sideways in a vary narrow range on Monday as the current bull market continues to lose momentum.

 

On the short term 5-minute timeframe, key inflection price level for NQ on Tuesday will be 6070.

-- Trading back above 6070 is an indication that NQ is likely to make another higher high before pulling back down as insiders continue to download their long position ahead of the bear market.

-- Trading below 6070 implies another sideways consolidation patter type of day or a pullback down day on sustained break bellow Mondays low.

NQ Guideline For Monday

NQ traded sideways in a narrow range on Friday even after a very dismal job report, an indication the US economy is really in bad shape. The media, analysts and the Fed brushed it off, an indication of a market top. The economy lost 33,000 jobs last month for the first time in 7 years.

But, with the market still in extreme bullish mode it will take some time before selling can overwhelmed the buyers.For Monday, NQ is still in a buy mode on both the daily timeframe and the 60-minute timeframe.

 

For Monday, the key inflection price level is at 6060, support at 6040 and resistance at 6070.

-- Trading above 6070 has the potential to trigger some short-covering rally.

-- Trading below 6070 is either going to cause a sideways consolidation price action or a pullback-down day.

NQ Guideline For Friday

NQ opened with a gap-up above key resistance, 6018, on Thursday. Then when support held on a test in the morning, buyers came in to buy the breakout, triggering a sustained rally into the close, setting up either another trending up day or sideways consolidation pattern.

 

Key price level for Friday will be 6050

-- If NQ can stay above 6050 on Friday look for another up trending day.

-- Breaking back below 6050 implies NQ is going to consolidate and trade sideways inside a trading range, with support back at 6018, resistance at 6050.

NQ Guideline For Thursday

NQ traded sideways again on Wednesday. After making a slight higher high above prior day high, profit-taking sent NQ back down to test support again before rallying into the close.

 

Key inflection price level for NQ on Thursday will be 5995

-- Trading above 5995 implies a rally to above prior swing high of 6018 before profit-taking activities sets in that could push NQ back down below 6018.

-- A sustained break above 6018 is likely to trigger a trending up day.

-- Below 5995, selling could come back in. If so the next support is at 5960

NQ Guideline For Wednesday

NQ simply traded sideways in a very narrow range on Tuesday as investors continue to download their growth stocks, (Nasdaq stocks)  in favour of large cap stocks (the Dow and S&P 500 stocks) ahead of a major trend reversal, typical price action at major market top.

On the short term intraday timeframe, NQ support going into Wednesday trading session will be 5990.
-- As long as NQ remains above 5990 on Wednesday NQ may simply trade either sideways again, or rally.
-- Breaking below 5990 is likely to trigger a round of selling. If so, the next support is at 5960

NQ Guideline For Tuesday

On Monday, after opening with a gap-up above prior trading day close, forcing the shorts to cover,  NQ rallied in a choppy pattern, clearly not attracting enough buyers to maintained a sustained rally.

 

Once the shorts had covered selling then starts to overwhelm buyers causing NQ to tank back down to support. Supports buying algorithm plus then end of day profit-taking activities caused a bounce into the close, in the middle of the trading rage, setting up either a rally or a selloff in the morning on Tuesday.

 

Key inflection price level for NQ on Tuesday will be 5990.

-- Trading back above 5990 is likely to trigger some short-covering rally.

-- Failure to break back above 5990 is going to be bearish, but key support remains at 5960

 

On the daily timeframe, NQ is still inside a choppy trading zone.

 

Here's a monthly snapshot of the S&P index going back to December 2007.

NQ Guideline For Monday

A strong rally day in the equity market, including the NQ, on Friday.  Now that NQ has broken back above its key resistance, the 20-DMA on the daily chart (5960), and back above its lower trend channel support, as long as it stays above the 20-DMA on the daily chart, the rally should continue, with or without a larger pullback.

 

Key intraday inflection price level on the NQ on Monday will be 5980.

-- Above 5980, NQ is going to rally without a larger pullback down move.

-- Trading back below 5980 implies a larger pullback down move, with the next support at 5960.

-- If 5960 does not hold, then we can see intense selling, lower support is at 5920.