Monday, January 7, 2019

NQ Guideline For Tuesday

A narrow range up day for NQ on Monday following a very large up day last Friday.
 
With President Trump's trade negotiation team now in talk with the Chinese, look for the PPT to remains very active in pushing the stop market up for Trump so that he can claim victory regardless of what would come out of the talk.
Image result for trade talks with china
As such, look for the stock market to continue to go up, that is, as long as pullbacks down move do not get too much out of control.
 
On the short term 5-minute timeframe, key inflection price level for NQ going into Tuesday trading is 6510.
-- If NQ should trade below 6510 on Tuesday, look for NQ to trade down to supports before going back up again. First support is 6460, then 6420..
-- If NQ should open above 6510 and stay above 6510, look for the rally to continue, with the next resistance at 6559 then 6650.