Monday, November 6, 2017

NQ Guideline For Tuesday

NQ traded sideways above prior day (Friday) swing high in a choppy narrow range trading pattern. The Fed is going to continue to buy the market, especially buying AAPL shares to keep the market elevated in order to manipulate the market sentiment. 
 
Buying programs should continue to push the stock market up, however, Tuesday could be a pullback down day or a sideways trading pattern type of day before trending back up again.
 
Key support for NQ on Tuesday will be 6285.
-- As long as any pullback down move in NQ can stay above 6285, NQ is either going to either trade sideways or trend back up again.
-- Break back below 6285 implies a larger drop, next support is 6270.