Sunday, September 22, 2019

NQ Guideline For Monday

-- NQ daily trend = still Up
-- NQ 60-minute trend is now Down
-- NQ 5-minute trend is Down.
 
NQ traded down to strong support, 7800, on Friday before bouncing, but then closed near the low. Depending on the 5-minute oversold bounce
 
Key inflection price level for NQ on Monday will be 7870.
-- Resistance is at 7910
-- Support is at 7800
 
A break below 7800 could trigger a lot of algorithm selling on the 60-minute and the daily timeframe, and could tank it down hard.