NQ Guideline For Wednesday

On Tuesday as expected NQ remained in the bullish mode, staying above 8370 key support and then rally, narrow-range and choppy . With the Thanksgiving on Thursday The Fed is going to continue to push the stock market higher.

 

Key support on Wednesday will be 8390.

-- If NQ can stay above 8390 after the open, we could see another choppy rally to next higher high, with the upside targets at 8410, then 8450 if they decide to trigger buy programs.

-- Trading below 8390 implies NQ is in a pullback down mode, with the next lower support at 8360

NQ Guideline For Tuesday

A large gap-up open followed by a trend up in the morning before trading flat for the rest of the day. NQ then closed above key intraday inflection price level for Tuesday, and that level is 8370.

With such a bullish setup for Tuesday, with the central banks certain to push the market higher into the long Thanksgiving weekend, as long as there is no unexpected market-moving new released on Tuesday NQ should either trade sideways or trend higher, as long as it stays above 8370, with the next upside target at 8400.

 

Should NQ trade below 8370 on Tuesday we could see a decline down to first support, now at 8320.

 

NQ Guideline For Monday

On Friday NQ opened below key resistance, then dropped down to support before rallying backup again, and breaking above key resistance at the end of the day, setting up at least a morning rally if the open remains above broken resistance-now support, and that price level is now at 8270 for Monday morning.

 

If the open is above 8270, we could see rally in the morning with two possible upside targets, The  first upside targets is 8320 for a normal choppy day, and 8370 for a very bullish day.

 

If on the other hand NQ opened below 8720 we could see another down day. If so the next downside targets is 8220, and if the market gets very bearish we could see NQ dropping further down to lower supports at 8170 before rallying back up again.

NQ Guideline For Friday

A choppy and narrow-range sideways trading pattern for NQ on Thursday. With Friday's tendency to be choppy, there is a very high probability Friday will be choppy too, unless there is some market-moving unexpected news hitting the market.

 

The current uptrend on the daily timeframe is still very strong, but the upside momentum on the daily timeframe has turned negative on Wednesday

 

Key line-in-the-sand for NQ on Friday is 8300.

-- Trading above 8300 could trigger some short-covering.

-- Below 8300 would keep NQ in a bearish mode.

NQ Guideline For Thursday

After spending the whole morning trading sideways in a choppy and narrow trading range NQ finally dropped down below support on Wednesday, triggering a round of algorithm sell programs, which many blamed on Trump-China No-deal news. However, the market was in deep overbought territory and needed a pullback.

 

The pullback is still above support on the daily chart, as such should continued to be bought, as long as it remains above 8200 which is the critical support on the daily timeframe. Should we see 8200 decisively gets broken to the downside, we could see strong selling as trailing stop-loss gets liquidated.

 

For Thursday key intraday line-in-the-sand for NQ will again be 8325.

-- If NQ remains below 8325 we could see more selling coming in on Thursday.

-- Breaking back above 8325 should keep selling under control, and a continuing choppy action for NQ

NQ Guideline For Wednesday

Another choppy and barrow range trading session for NQ on Tuesday as it continued to nake a higher high under overbought condtion on the daily chart.

 

The momentum on the daily timeframe has really slowed down and mat be ready for a larger pullback down support.

 

Key intraday Line-in-the-Sand for NQ on Wednesday will be 8325.

-- NQ has now traded down below 8325 in after hours trading, and if it opens below 8325 on Wednesday we could see some selling that could tank NQ down to lower supports at 8300, 8280 and 8240.

-- Trading back above 8225 implies choppy and sideways trading action for NQ on Wednesday

NQ Guideline For Tuesday

After dropping down to key intraday support on Monday NQ then spent the rest of the day rallying, with small end of day profit-taking decline, an up day on Monday, but now in overbought zone on the daily timeframe, making it very difficult to rally, thus tend to be choppy.

 

At the end of the day, key NQ intraday support for Tuesday has now risen upward to 8300, with minor support at 8320.

-- Trading above 8300 is an indication that NQ may continue to chop around in a narrow choppy trading range.

-- Trading below 8300 cou8ld trigger some selling algos, first support is at 8270, then 8250 and 8200.

NQ Guideline For Monday

NQ continued to rally in a choppy and narrow range on Friday, and is expected to continue to trade in a choppy narrow range on Monday as NQ is now in an overbought condition on the daily chart.

 

The rally should continue on Monday as long as NQ remains above key support price level which for Monday will be at 8280. A break below 8280 could trigger some short term selling with the next lower support at 8200.

NQ Guideline For Friday

Another narrow range sideways consolidation pattern for NQ on Thursday, clearly indicating a loss of upside momentum on the daily chart. However, as long, and NQ can continue to simply trade sideways. as NQ remains above support. 

 

Key support for NQ on Friday will be 8240.

-- Trading above 8240 will keep selling under control. However, without buyers, NQ simply trade sideways.

-- A break below 8240 could trigger some selling. However, with Friday tending to be a choppy day we could see any selling getting bought.

NQ Guideline For Thursday

Another choppy narrow range trading action for NQ on Wednesday, clearly indicating the rally momentum on the daily timeframe is slowing down and looks ready to pullback down.

 

Key support for NQ on Thursday will be 8240.

-- A break below 8240 could trigger a round of algos sell programs on the 60-minute timeframe. If so the next strong support is at 8160 then 8130 area. 

-- Staying above 8240 implies more choppy sideways price action

NQ Guideline For Wednesday

Another sideways trading pattern for NQ on Tuesday, although he daily uptrend is still up, it is an indication that the upside momentum is slowing down.

 

On Tuesday NQ opened above line-in-the-sand, and rallied in the morning, then pullback down in the afternoon.

 

Key line-in-the-sand for NQ on Wednesday is now at 8250.

-- Trading above 8250 in the morning could cause a rally.

-- Trading below 8250 is an indication NQ is going to drop down to lower support, first support is 8230, then 8125.

NQ Guideline For Tuesday

A narrow range sideways trading pattern for NQ on Monday as many traders took the day off for the veterans day holiday. A the close on Monday, NQ is setup for a big rally day on Tuesday, as long as NQ can remains above key line-in-the-sand on Tuesday.

 

Key LIS for NQ on Tuesday will be at 8240

--  Trading above 8240 sets up a potential trending move up on Tuesday. If so the next upside target is 8350.

-- Trading below 8240 would keep NQ in a pullback down mode. If so first support is  at 8210.

 

NQ Guideline For Friday

Another sideways trading pattern for NQ on Thursday, rally in the morning then sold off in the afternoon.

 

NQ is currently in overbought condition on the daily timeframe, and may be ready to reverse from an uptrend to a downtrend on the daily chart.

 

Key intraday line-in-the-sand for NQ on Friday is now at 8220, bullish abode it, bearish below it with first resistance at Thursday high and first support at 8160

NQ Guideline For Thursday

NQ pullback down in the morning then rally back up in the afternoon, forming a doji day on the daily candle, setting up a rally day on Thursday.

 

Key line-in-the-sand for NQ on Thursday will be 8210.

-- Trading above 8210 is an indication NQ is going to rally. Key upside target is 8300

-- Staying below 8210 implies more consolidation and more pullback down move.

NQ Guideline For Wednesday

A choppy sideways narrow range trading day for NQ on Tuesday. With no buyers at this level, and at the same time no sellers, the market is going to continue to be choppy.

 

Key price level for NQ on Wednesday will be 8200.

-- A break below 8200 could trigger algos sell programs that can quickly tank NQ down to lower support at 8120.

-- Staying above 8200 should keep NQ in a choppy narrow range mode

NQ Guideline For Tuesday

NQ is in breakout mode on the daily timeframe as long as it remains above 8000. As such there is not much selling. It is now getting choppy and narrow range as it approaches an overbought condition on the daily timeframe, now at 8300.

 

On the short term intraday timeframe, key support for NQ on Tuesday will be 8200.

-- Above 8200 NQ should either trade choppy and sideways or rally to another higher high.

-- We could see sharp sell-off below 8200 with first support at 8160