NQ Guideline For Tuesday

After rallying up towards key 50-day moving average resistance at 6770 at the end of last week NQ has been dropping back down to crucial 20-day moving average support, at 6600, setting up either a bounce from support or a break below support.

 

NQ support is now at 6600 price level.

-- A break below support is very bearish and an indication NQ is going to crash down below its key technical price support level, the 200-dma which has been tested twice in April and held. A test this time around will be the third test, and is likely to be broken. A break could cascade an avalanche of sell orders crashing NQ down.

-- A bounce off the 20-dma support on Tuesday could be short-lived but it should keep selling under control.

NQ Guideline For Monday

Strong resistance resides at around 6770 for NQ, the location of its 50-day moving average where selling algorithm resides.

 

it should continue to be strong resistance on Monday. If buy programs can push NQ above 6770 and then able to stay above 6770, selling algorithms will turn into buying algorithm which should catapult NQ higher. However, failure to break-back above 6770 is going to be bearish.

 

Key support resides at around 6620. Should NQ clearly break below 6620 it could trigger massive selling algorithm, tanking NQ back down to its 200-day moving average. Should it retested the 200-dma level again, it is likely to break.

NQ Guideline For Friday

The Fed buy program triggered after the cash market was closed when most traders are out of their office rocketed NQ up about 100 points in a span of 5-minute. The fear is a break below the 200-day moving average. What will they do on Friday will be more of the same, buy programs.

 

NQ resistance now is 6770, support is at 6600.. A sustained break above could trigger further rally, while a break below support could trigger a selloff. Remaining inside the range could result in a choppy sideways price action.

NQ Guideline For Thursday

Major equity indices bounced off their respective 200-day moving average on Wednesday then close slightly positive for the day.

 

The rally from a bounce off the 200-dma may continue on Thursday then continue back down and break the 200-dma on Friday

 

On the 5-minute time frame, key resistance on Thursday will be 6550.

-- A clear break above, especially if it gap-up above 6550 on Thursday there is s real possiblilry they would be able to push NQ up to 6650 resistance.

-- Failure to break back above 6550 is bearish, and a selloff could break below the 200-dma which is around 6400 at the moment. A clear break of the 200-dma is going to bring in a lot is selling.

NQ Guideline For Wednesday

NQ broke below its key 20-day moving average in the morning when then triggered massive algorithm selling tanking NQ down towards the critical 200-dma support.

 

NQ is now set to tank down to its 200-dma support which is currently at 6400. A decline down to 6400 could attract enough buying interest to at least cause a temporary bounce. But with the 10-year US treasury bond yield breaking above ket technical 3% level, all hell could break loose if yield clearly break above 3% level.

 

Support for NQ on Thursday will be 6400.

 

The chart below is current Nasdaq 100 chart, spotting a bearish Head &Shoulder pattern.

NQ Guideline for Tuesday

NQ dropped down and found support at the critical 20-day moving average on the daily chart, 6620.

 

It is imperative that NQ should continue to rally from Monday low as a break-back below 6220 is very bearish and is likely going to attract heavy selling that could tank NQ quickly down to 6350 where the next potential support lies.

NQ Guideline For Monday

A large down day for NQ on Friday, a second consecutive down day. It is critical that NQ find support at its 20-day moving average on the daily chart, now at 6620.

 

It is also very important that NQ rally on Monday, as failure to rally implies very weak market and a market that is ready for a sharp selloff

 

Supports for Monday is at 6650 then 6620.

NQ Guideline For Friday

A pullback down day for NQ on Thursday but with NQ solidly trading above support, with most algorithm in buy mode, selling remained under control.

 

Tomorrow is Friday and Friday tends to be a choppy sideways type of day. Unless NQ clearly break out of its trading range, 6720 support and 6800 resistance, look for NQ to trade sideways.

 

Heavy selling continue to keep a lid on any rally. Trump trade war and shooting war is going to drag the global economy into a recession much sooner than otherwise.

NQ Guideline for Thursday

On Tuesday NQ broke above its key 50-day moving average on the daily chart, triggering massive rally as shorts were forced to cover. Wednesday was a consolidation day following a massive up day on Tuesday.

NQ is now trading above its 20-dma and its 50-dma now acting as support thus selling should be under control. Any pullback down support is going to be bought as long as it does not violates its 20-dma and 50-dma now solid support zone .

Intraday support for NQ on Thursday will be 6800. As long as NQ does not clearly violate 6800 the rally should continue

NQ Guideline for Monday

Another sideways consolidation type of day on Friday, but with Trump now launching shooting war after just recently launch trade war the stage is set for massive collapse. Trade war and shooting war is very negative for the economy.

The Fed is certain to intervene aggressively in the stock market in the coming day just to prevent the market from collapse. Whether or not they will succeed only time will tell. They may succeed in the short term but eventually market forces will prevail.

 

Key support for NQ on Monday will be 6600.

-Trading below 6600 could trigger heavy selling.

NQ Guideline For Friday

NQ continued its choppy rally, now starting to push into several resistance layers, 6675 prior swing low, 6680 20-DMA on daily chart, 6725 the 1:1 drive, and 6760 the 50-DMA on the daily chart.

 

Any of the above resistance could send NQ back down. With Friday pattern normally displaying a choppy sideways pattern as traders balance their books ahead of the weekend, look for the market to be choppy on Friday unless buying algorithm is able to push it above resistance in a sustained fashion

 

Trump determination to g to war is going to continue to influence the short term market action.

NQ Guideline For Thursday

Another sideways trading pattern for NQ on Wednesday, trading just below several layers of strong resistance, staring at 6675 - 6680 then 6765.

 

NQ needs to clearly break above 6765 for the shorts to starts to cover. As long as NQ remained below 6765 any rally will continue to get sold.

 

Short term support is now at 6500 for selling to intensify, Above 6500 NQ should continue to chop around .

 

President Trump troubles at home makes him more determined to launch airstrikes on Syria and  ratcheting up his trade war rhetoric against China in order to deflect attention from his various troubles at home.

 

Any of his reckless actions could cause stock market crash.

 

NQ Guideline For Wednesday

With the major stock indices remaining above their key 200-day moving average support selling were under control on Tuesday and the buy programs were able to push the stock market higher.

 

As long as the major indices remains above their 200-dma, selling should remain under control, and the stock market may continue to rally .

NQ Guideline for Tuesday

The stock market continued to chopped around on Monday, stuck between the 200-day moving average support and resistance,

 

The topping process continues ahead of a big dump with our without a large bounce off the key 200-dma support.

 

The forces of deflation should continue and should intensify. key support level remains at 200-dma on the daily chart for the major indices, and as soon as the three indices breaks below the 200-dma all major algorithm should be on sell mode, triggering massive selling avalanche, crashing the market in a major way.

President Trump trade war is simply going to accelerate the stock market collapse, ensuring the demise of the republican party in the upcoming mod-term election, likely triggering a call for trump resignation as trump base having abandoned by trump in a big way, starts to abandon Trump. 

 

NQ key support 200-DMA is now at 6350

 

NQ Guideline for Thursday

With China announcing their response to Trump trade war and with the Dow opening with over 500 points lower that previous day close the stage is set for massive intervention by central planners to push the stock market up.

 

As so they did, massive buy programs triggering massive rally starting right from the opening bell.

 

The rally should continue as profit-takers cover their shorts and reversed to buying. There is certainly more central planners intervention and if more short needing to cover, more rally is to be expected.

 

Key support remains at the 200-day moving average on the daily chart.

 

China retaliation is going to hit the soya bean and pig farmers hard. It is just the beginning. Northing good will come from the trade war.

NQ Guideline For Wednesday

The 200-day moving average continued to be heavily defended by the power that be with only the S&P 500 that has broken below it. Both the Dow and the NQ continue to be well supported by their 200-day moving average.

 

Going forward, as long as the 200-dma is able to provide support they may able to rally the stock market up. Failure to mount a convincing rally off the 200-dma however is very bearish and is an indication that a break below is going to cause an avalanche of selling that will crash the stock market.

NQ Guideline For Tuesday

On Monday the S&P 500 broke decisively below its key 200-day moving average support and closed below it. However, both the Dow and the Nasdaq 100 (NQ) bounce off their 200-dma, thus prevented a massive selloff in the stock market on Monday.

Key going forward is the200-dma on the Dow and the NQ. Should they too break, look for massive selling in the stock market as margin selling would flood the market with sell orders.

President Trump started trade war with the world. On Monday China answered back announcing their list of tariff against the US, not a good sign for the world economy. And the sock market selloff should continue.

On Tuesday, key support for NQ is its 200DMA on the daily chart, now at 9330. A clear break is likely to trigger an avalanche of selling.

NQ Guideline For Monday

End of the week profit-taking helped bounced the market off their respective 200-day moving average. The 200-dma will continue to be key price level going forward and on Monday.

 

If the Dow and the S&P 500 remains above their 200-dma on the daily chart the stock market either continue to trade sideways or rally.

 

A break below their 200-dma is very likely to trigger an avalanche of sell orders and could tank the stock market very hard.

 

For NQ the next potential support is its 200-day moving average, currently ay 63000.

 

Amazon continued to be sold