NQ Guideline For Wednesday

As expected, following a large trending up day on Monday, NQ traded sideways in a consolidation pattern on Tuesday.

NQ closed in a bullish zone for Wednesday, however, it may not be ready to trend again, As long as it stay above key intraday support at 12,820, we could see either another day of consolidation or a trend up day on Wednesday.

Again key intraday line-in-the-sand for NQ on Wednesday will be 12,820. Above 12,820 the buyers are still in control, bullish bias. However, should NQ break below 12,820 we could see sharp selling period as trailing stop-loss for the buyers get run-over.

NQ Guideline For Tuesday

As expected after a brief pullback in the morning on Monday, NQ then rallied all day with a small profit-taking decline at the end of the day.

On Tuesday we could expect some pullback either soon after the open or later in the afternoon, depending on where NQ opens.in relation to its intraday inflection price level, which on Tuesday will be at 12,820.

Staying above 12,820 at the open is an indication NQ is going to rally to another higher high before then pulling back down to support levels, 12, 820, then 12,785, 12,755

With most traders still on holidays, we could expect very choppy trading action going forward

NQ Guideline For Monday

After spending six days mostly inside a narrow trading range between 12,650 to 12,750 trading zone, NQ may be ready for a large trending day on Monday, the trend direction will depends on where NQ would open on Monday. 

Overnight NQ is trading up, after President Trump agreed on the stimulus and likely was followed by massive buy programs by the treasury department in order to cause a big rally, which is likely top occur on Monday.

Key intraday line-in-the-sand for NQ on Monday will be at 12,690, bullish above, with realistic upside target at 12,890, bearish below it.

NQ Guideline For Wednesday

With most traders now already on holidays, NQ traded sideways on Tuesday, with morning selloff then reversed back up.

The pattern is likely to continue for the next 2 days, sideways actions with less volatility in the afternoon.

However, as always, we must always expect the unexpected, the pattern could change.

NQ Guideline For Tuesday

The stock market sold off hard in the morning on Monday likely due to end of the year rebalancing activities, but the Fed was there to support the market by injecting massive liquidity into the banking system.

The market rallied really sharply back up. This type of activities is likely to continue into the year end as fund continue to rebalance, and the Fed will continue to stand by to support the market. As for NQ, as long as it continues to trade above 12,400, buying the dip should still works.

Trading below 12,400 could change the trade bias from bullish to bearish.

NQ Guideline For Monday

On Friday NQ opened with a gap-up, then trend down all day until the very end when arbitrage machine has stopped trading, some entity triggered massive buy programs that lasted into the close.

With the 900 billion Covid stimulus now has been agreed upon we could see a bullish Monday, as long as it can stay above key support levels.

For NQ going into Monday key intra-day support level will be at 12,701. Will remain in a bullish mode above it. If NQ is not able to stay above 12,700 in spite of the agreement on the 900 billion, that would be very bearish for the market.

NQ Guideline For Friday

A very choppy sideways day for NQ on Thursday. The choppy action may continue on Friday because Friday tends to be a choppy day.

Key support/resistance level for NQ on Friday will be at 12,730. bullish above it with upside target above Thursday high, and bearish below it with downside target at 200-ma. 

NQ Guideline For Thursday

On Wednesday, ahead of the FOMC decision the market slowly continued to rally in a choppy slow manner, liekly just from short-covering because most traders and investors are already long the market, there is no more buyers.

NQ is slowly approaching extreme overbought on the daily time-frame, but on all time-frame, everything is still pointing to the bullish side. The FOMC did not change any of their current policies. With Biden sure to be the next US presided the flood gate is wide open for massive money printing.

With central banks still has an effective control on the gold and silver manipulation scheme, look for Bitcoin to lead the charge higher, on Wednesday breaking above 20K. If global central banks fail to control bitcoin rise, the paper money regime will collapse much quicker that everyone think is possible.

On Thursday, with NQ in overbought zone on the intraday 5-minute timeframe, look for possible pullback in the morning before rally again, as long as any pullback does not break key intraday support, on Tuesday will be at 12,570

NQ Guideline For Wednesday

On Tuesday, NQ was engineered to open above prior day high, to trigger short-covering and push NQ back into the bullish zone. 

With the close at the day high on Tuesday, it kept NQ in the bullish zone. However, the close was also in overbought zone, vulnerable to a shar pullback before rallying up again.

NQ would need to clearly break below Tuesday low during a pullback decline move to cause a reversal, from uptrend to a downtrend.

NQ Guideline For Tuesday

On Monday NQ opened with a gap-up and forced a lot of shorts to cover, thus continued the rally that started on Friday afternoon. It started to look like it was going to trend up all day. 

However, after most of the shorts has covered, buying was overwhelmed by selling forcing NQ to dropped down towards the open, a very unusual pattern. At the end of the day NQ looks bearish, a shooting start candlestick pattern on the daily chart, 

Without rallying back above Monday swing high, we could see selling pressure accelerating. A break below key support on the intra-day 5-minute chart, at 12,400, we could see heavy selling.

NQ Guideline For Monday

On Friday after trending down in the morning, NQ reversed back up and trend up in the afternoon. At the end of the day NQ was pushing into overbought zone on the 5-minute chart.

On Monday, if NQ would open above Friday's swing high into overbought zone we could see a pullback down move before resuming the rally, as long as the move down does not violate key support, which for Monday will be around 12,330.

If the pullback decline should clearly break below 12,330 we could see a resumption of a downtrend. If so look for a ;large decline if it can break below Thursday low, and then stay below Thursday low. 

NQ 60-minute Chart

NQ Guideline For Friday

After a large down trending day on Wednesday, Thursday was a sideways consolidation type of day, with early morning margin selling followed by a reversal back up.

Friday is often a sideways consolidation day, so we could expected NQ to trade between support at around 12,300 and resistant at around 12,480-12,500.

As always, look for unexpected market moving new that can cause NQ to trend, down or up, with key line-in-the-sand at 12,500

Potential trading range 12,300 - 12500

NQ Guideline For Thursday

On Wednesday NQ opened and traded down to support, trying to duplicate Tuesday's price pattern. However, the market does not usually repeat the exact pattern two days in a row.

Instead of rallying after the initial decline soon after the open in the morning NQ traded sideways then broke below key support. This time there was not much buying below support, instead it triggered a massive selling which ran over massive numbers of trailing stop-losses, triggering massive selling that lasted into the close.

On Thursday, it is likely NQ may make another lower low, down to support before rallying sharply, perhaps during lunch or in the afternoon depending on when it makes a lower low.

Key support, provided by previous swing highs, one from November 16th, at around 12,260 then at 12,020 from October 12 swing high.

If we get a bearish market internals on Thursday, because there are so many traders long the market, a continual margin call on Thursday could cause heavy selling that would easily crash through those above  supports, 12,020-12,260 zone.

NQ Guideline For Wednesday

After a sharp selling early in the morning, NQ spent the rest of the day rallying again into a new high. Announcement of massive money printing by all the central banks around the world should keep the rally going.

Over $700 billions new money printing by the Bank of Japan, over $600 billions by the ECB and likely over one trillion dollars by the Fed, many may be pure new money, unsanitized money creation, leading to syncronized global hyperinflation currency collapse.

Under that scenario, the stock market should go into hyper parabolic move to keep up with inflation.

On the short term intraday timeframe, key support for NQ on Wednesday will be at 12,580, bullish above, a deeper pb below it.

Zimbabwe Stock Index during their hyperinflationary collapse.

NQ Guideline For Tuesday

NQ continued to remain above key support on Monday thus continue to trend up in a very choppy action.. This type of pattern will continue util we can get a decent pullback down move, runo0ver trailing stop-losses, and then  and trap the short-sellers.

At the current price level, everyone who wants to be in the market has already bought, the current buying power is coming mostly from those covering their short position, the uptrend is lacking momentum.

Key support on Tuesday will be at 12,530. Choppy above, but could have a sharp decline on a sustained break below it

NQ is currently in overbought zone on the daily time-frame and the 60-minute time-frame. As such. could set up sharp unexpected selling.

NQ Guideline For Monday

NQ traded sideways in a very narrow range on Friday, a likely short term topping pattern as we can see from the 60-minute chart.

On the daily chart, NQ is not that far away from overbought price zone. So it is possible NQ could drop down below 20-ma on the 60-minute chart for one to three days, then to be followed by a rally again to higher high into the overbought zone on the daily chart.

Key support for NQ on Monday will be at around 12,480. A clear and sustained break below 12,480 is an indication NQ is going to drop down to support at 12,350, likely is a very fast impulsive decline.

NQ would need a big market moving news to cause a trending up day on Monday, thus above 12,480 we may just get another choppy narrow range type of day on Monday

NQ Guideline For Friday

 After making a higher high soon after the open on Thursday NQ traded sideways. With NQ in overbought zone on the 60-minute time frame and on the daily chart we could see NQ topping now and ready to reverse back down and trend down for a week or two, perhaps starting next week.

As NQ tends to trade sideways on Fridays, without a major catalyst,  look for NQ to chop around on Friday.

Key suppoprt/resistance zone for NQ on Friday will be at 12,470, bullish above and bearish bias below it, with both the upside target at 11,570 and support at 11,370

NQ Guideline For Thursday

 A sharp selloff for NQ on Wednesday right from the opening bell. NQ dropped down to support then rallied all day into the close. At the close of the day NQ looks set to trend up on Thursday

Both on the daily chart, and the 5-minute chart, the technical pattern for NQ looks good for a trending up day on Thursday. However, on the 60-minute time-frame, NQ could be setting up for a lower-high test of Tuesday high.

As such, I would be looking at 12,420 as key line-in-the-sand for trading NQ on Thursday, bullish above and bearish below it.

NQ Guideline For Wednesday

 A breakout day for NQ on Tuesday, with NQ opening above prior day high, then trend up all day, with a small profit-taking decline near the close.

On Tuesday, key inflection price level is at 12,460. If NQ should trade below 12,460 on Wednesday we could see NQ likely to trade sideways between support, 12,340 and resistance 12,460

Trading back above 12,460 could cause some short-covering activities that could send NQ back up to another higher high. If so, the next upside target is at arould 12,560

NQ Guideline For Tuesday

NQ sold off very hard in the morning on Monday but it then reversed and rallied the rest of the day into the close, setting up a bullish Tuesday.

Key line-in-the-sand for NQ on Tuesday will be at 12,260, with the next upside target at 12,410, and support at 12,200

The trend on the daily time-frame is UP but near overbought level. The trend on the 60-minute time-frame is also UP, but in overbought zone

NQ Guideline For Monday

NQ continue to rally into the Thanksgiving holidays. NQ has rallied into overbought zone on the 60-minute and the near overbought on the daily time-frame. As suck we could expect some alrger pullback this coming week.

With all the major indices still in bullish mode on the longer-term timeframe we could expect the rally to continue as long as pullbacks does not violated key technical level.

On the intraday time-frame, key inflection price level for NQ on Monday will be at around 12,250, bullish above and bearish below, with key support at the 200-ma on the 5-minute chart.The next lower support is 12,040

  

NQ Guideline For Tuesday

NQ trend down in the morning on Monday, then reversed and rally back up to equilibrium zone in the afternoon.

Key support/resistance price zone for NQ on Tuesday will be at 11,940. If NQ could trade and then stay above 11,940 we could see NQ rallying up towards resistance at 12,035. 

A sustained break above 13,035 has the potential to trigger short-covering. If so we could see all day rally. However, failure to stay above 12,030 could cause a sharp reversal back down towards 11,940 area..

NQ is bearish below 11,940 with first support at 11,870. Short trading weeks due to Thanksgiving Holidays, usually has a bullish bias.

NQ Guideline For Monday

 A narrow range, sideways day on Friday with a bearish close. On the daily chart and on the 60-min chart, the set-up is bearish. 

However, for the sell-off to happen, both the Dow and the S&P 500 has to participate in the sell-off. As of Friday close, both the S&P 500 and the Dow are sitting at key support level,  A break below will be bearish, failure to break will be bullish.

Key linein-the-sand for NQ on Monday will be at 11,970. NQ is bearish below it but it would need to break below 11,840 to run over trailing stop-losses.

At the close on Friday NQ was in very oversold zone on the intra-day 5-minute time-frame, and could cause some consolidation in the morning before trending back down.

If oversold bounce should break above 11,970 we could see NQ to continue to rally higher.

NQ Guideline For Friday

Again a narrow range sideways day for NQ on Thursday. With the Vix index in the low twenties, we could see lots on choppy sideways days, and fewer trending days. There will still be some trending days, but more non-trending days.

Key line-in-the-sand for NQ on Friday will be the 200-ma on the 5-minute chart (11,970). With Friday generally a non-trending day, we could see choppy action again on Friday.

NQ Guideline For Thursday

 On Wednesday NQ again traded sideways but with a range expansion and a bearish close. At the end of the day on Wednesday, both the daily chart and the 60-minute chart looks bearish, and ready for a big drop, which could happen tomorrow, Thursday.

With NQ closing in oversold on the 5-minute timeframe, we could first see a bounce at the open on Thursday. If the bounce does not break above the line-in-the-sand 11,940, NQ should then tank and trend down all day on Thursday, supports at 11,600-11,700

Trading back above 11,940 implies rally up to 12,000

NQ Guideline For Wednesday

 A choppy narrow range day for NQ on Tuesday. Without a catalyst to knock the market out of balance, we could see another narrow-range choppy day on Wednesday.

Key line-in-the-sand for NQ on Wednesday is the 200-ma on the 5-min chart. NQ dould need to11,900 to cause run-over trailing stoploss for the bulls. Until then, NQ can continue to trade sideways in a narrow trading range.

NQ Guideline For Tuesday

On the 5-minute time-frame, NQ had a nice clean 5-wave rally from last week Thursday afternoon swing low to today's swing high. Wave 5 may not have ended at the end of the day on Monday. If so we should see more rally on Tuesday morning followed be a decline.

Key level to watch on Tuesday will be the 50-ma on the 5-min chart. Below 50-ma implies wave 5 rally on the 5-min chart has ended, and it should be followed by a decline towards the 200-ma on the 5-minute chart.

If, on the other hand, NQ continues to stay above 50-ma on the 5-min chart, the rally could continue to higher levels.

NQ Guideline For Mnday

 NQ pullback down to 200-ma support on Friday morning, then rally all day into the close.

With key breakout level above Thursday high for upside breakout and below Thursday low for downside breakout, look for short-covering or long covering to last all day on Monday. A trend-up above 11,960, and a trend down below 11,780.

A false-breakout can also reverse and trend all day in the opposite direction of the break.

A break above Thursday high, 11,960 on Monday and if it can stay above 11,960 could trigger a short-covering rall that can last all day on Monday.

NQ Guideline For Friday

Thursday was a sideways type of day, setting up a big move. However, since Friday tends to be a sideways type of day, the trending move may have to wait until Monday next week,

Key support for NQ on Friday will be at 11,800 and key resistance at 11,900. If NQ can break above 11,900, the next resistance is 12,000. 

For Friday, NQ either stays inside Thursday trading range, or have a false-breakout of the range, and reversed.

NQ Guideline For Thursday

On Wednesday NQ opened with a large gap-up which cuase the shorts to cover. A slow choppy rally that lasted all day into the close. That was a consolidation day following 2 large down days.

Consolidation sets up a large trending move, which could happen tomorrow on Thursday, the direction of the trending move will depend on where NQ trades in relation to Wednesday swing high and swing low.

The breakout of Wednesday range needs to be sustained, because a breakout that get reversed will trigger sharp reversal move.

Key support is Wednesday low, key resistance is Wednesday high, and there is no obvious direction.

NQ Guideline For Wednesday

Following a large down day on Monday NQ traded sideways on Tuesday, setting up another trend day, likely on Wednesday.

NQ closed right at the line-in-the-sand for Wednesday's trading, 11,625. Trading above it is bullish, with the next resistance at 11,800-11,900.

Key support is 11,500. A sustained break below 11,500 is likely to tank NQ down to 11,200

NQ Guideline For Tuesday

 Market manipulators managed to pushed the equity indices up on Sunday night, in order to cause a huge opening gap-up on Monday, which it did. 

However, they also hope to trigger massive  short-covering rally to usher in Joe Biden winning the US presidency election. Short-covering did not happen in mass, instead, a huge gap-up triggered massive profit-taking selling which tanked the market down very hard, especially NQ. 

As such NQ had a top-reversal tupe of day on Monday. It may not have much long-term impact, but on Tuesday we could see a follow-through selling in the morning.

Heavy selling on Monday could also mean a sideways market for NQ on Tuesday. Key inflection price zone for NQ on Tuesday will be at 11,800. 

Trading below 11,800 level is bearish with the next support at 11,600. It is possible NQ could open with a gap-down and run down to 11,600 in the morning then rally back up, or just continue to sell lower. However, 11,600 is a very strong support zone.

Or NQ could open above 11,800 then rally to 12,050 resistance. A break above 12,050 could trigger short-covering. Failure to break above 12,050 could attract more selling.

Morgan Stanley's Michael Wilson has a very interesting chart of the S&P 500 before Monday trading session.. 

NQ Guideline For Monday

 NQ traded sideways on Friday with selling in the early morning that was followed by a rally the rest of the day.

Now that many main stream media has declared Joe Biden has won the presidential election the stage is now set for unlimited money printing by the Fed. 

The stage is set for gold rally, stock market rally and  US dollar collapse as the future rounds on money-printing will not be sanitised, it will be pure money printing which will lead to global fiat money system currency collapse that would usher in new monetary system.

On the short term intraday time-frame, the stock market has rallied big overnight which should continue into Monday.

Key intraday line-in-the-sand for NQ on Monday will be at 12,040, bullish above, bearish below it. Below are charts showing how the stock market performed in the recent currency collapse, the top is Venezuela in Venezuela 2014-2017, and in Zimbabwe 2005-2007

NQ Guideline For Friday

 Thursday was the second panic short-covering by the short-sellers, and those who got long before the rally is likely to take profit ahear of the long weekend. If so, we could have enough selling to tank the market hard on Friday.

Key price level for NQ going into Friday trading is at 12,050.and key support  level is Thursday swing low.

Overnight on Thursday night NQ has traded below Thursday low. If NQ should open below Thursday low on Friday we could see heavy selling activities that could sink the market down to strong support at 11,750-11,800

Looks like President Trump is likely to lose the presidency.

NQ Guideline For Thursday

 A huge opening gap-up for the stock market on Wednesday with NQ opening with about 400 points up, in anticipation of Joe Biden victory in the presidential election and his huge money-printing scheme.

With Joe Biden now almost certain  to win we should see continual rally on Thursday as short bets (those betting on Trump victory with less money printing) needs to cover.

Key price inflection zone for NQ on Thursday will be at 11,750. Bullish above it. A break below, although a less likely possibility, implies a larger pullback down, with the next lower support at 11,620

Gold price chart

NQ Guideline For Wednesday

On Tuesday, massive buy programs likely by the Trump administration ahead of the election pushed NQ up above resistance. It then dropped back down to etest broken resistance,11,200, now support.

Overnight on Tuesday night, NQ has already rallied over 400 points from the close. Things could change drastically by the morning depending on the election result. 

The line-in-the-sand will remain at 11,200 acting as support for Wednesday, with key resistance at 11,600.

Election result will determine the direction of stock market on Wednesday.

NQ Guideline For Tuesday

Ahead of the the presidential election the stock market traded sideways on Monday, down-trending in the morning and rally in the afternoon.

The pattern should continue on Tuesday but expect the market to move out of the current range once the election is over, even though the result may not be known for a while.

NQ Guideline For Monday

Heavy selling in the stock market on Friday likely due to the uncertainty with the outcome of the upcoming Presidential election this coming Tuesday.

The selling ahead if the election by those holding huge profit may continue and if the outcome is going to be heavily contested we could see the selling becoming very unruly, i.e. a stock market crash.

Key resistance to hold on Monday will be 11,150. If NQ failed to break clear above 11,150 we could see real heavy selling coming back and overwhelmed buying.

If Friday low should break the next support is 10,650, a double-bottom with September low.

NQ Guideline For Friday

 As expected, NQ opened with a gap-up, then after closing the opening gap, rallied most of the day as the shorts were forced to cover. NQ eventually rallied into overbought zone late in the day before reversing sharply into the close.

After the close a series of tech earning including Apple earning report tank NQ very ahrd after the close, setting up a highly sharp decline on Friday. As we know, Friday tends to be a choppy sideways day, not anything is possible.

The market has until recently, priced a Joe Biden win, but the odds now is srarting to favour Trump winning the election. And that likelyhood of Trum winning means less money printing and continual trade wars, bad for the market. As such selling has started.

Key support NQ on Friday will be at 11,130. A sustained break, and NOT a false-break could crash NQ down to double-bottom support at 10,650. It is possible that double bottom level with September low may have to break before profit-taking can pause the decline.

NQ Guideline For Thursday

On Wednesday NQ opened with a huge gap-down due to the highly likely bitterly contested election result with no clear winner. The large gap-down then ran-over trailing stop-losses triggering market meltdown.

NQ finally dropped down to very strong support provided by prior swing high from mid-September, 11,130-11,150. It may cause a temporary bounce on Thursday, with first resistance at 11,350. which could stop the rally.

If so, we should see selling resume perhaps Thursday afternoon if not Friday morning. Should that happen we could see NQ dropped down to 10,660

Key inflection price zone for NQ on Thursday will be at 11,200

.

NQ Guideline For Wednesday

As expected, after a large range day on Monday NQ traded in a very narrow-range choppy sideways action on Tuesday. It was also an inside day.

NQ is likely to continue to trade inside Monday's trading range on Wednesday as it traded right in the middle of Monday range all day on Tuesday.

Although anything is possible, it would take a really big move away from Tuesday trading range just to breakout of the range established on Monday.

Key inflection price level for NQ on Wednesday will be at around 11,550 zone..

NQ Guideline For Tuesday

After 4 days of sideways action NQ finally broke out of the trading range, thus run-over stop-losses. The beak was to the downside, thus NQ tanked hard in the morning, but buyers and profit-takers managed to overwhelmed seller trigger quite a large afternoon reversal.

For Tuesday key line-in-the-sand is at 11,450, with first resistance at 11,510, then 11,570-11580. Supports are at Monday's swing low. But strong support from the daily chart is not until 11,200

NQ Guideline For Monday

NQ continued to trade inside a narrow trading range between 11500 to 11,800 on Friday. Unless we get an unexpected market moving news such as the agreement on the new covid " so-called stimulus" or new about the upcoming election, NQ is going to continue to see NQ stuck between 11,500 support and 11,800 resistance

However, should NQ break out of the range, we could see a large 300 to 400 points trending move in the direction o the break.

Key inflection price zone for NQ on Monday will be at 11,630. If NQ should trade above it we could see NQ rallying up to 11,800. Below it we could see NQ dropping down to support at 11,500

If NQ should break below 11,500 o some bearish news, we could see heavy selling  with the next lower target at 11,200 and possibly down to 11,000 as the longs get liquidated.

NQ Guideline For Friday

Another sideways trading action for NQ on Thursday. It is likely to continue sideways on Friday unless Trump and the Democrats announces agreement on stimulus. In that case the market may rally big.

Key line-in-the-sand for NQ on Friday is 11,680, Bullish above, and NQ should rally to then next resistance at 11,750. and bearish below it with NQ dropping back to supports 11,550

NQ Guideline For Thursday

With the US election approaching, and with no clear winner to be expected the stock market traded sideways again on Wednesday, unable to move out of the current trading range as investors wait for more news.

For NQ support levels remains at between 11,450 to 11,600 and resistance at 11,750. A breakout of the range could trigger trending move out of the range. However, NQ could continue to trade inside the range until either buyers or sellers overwhelmed the other side.

NQ Guideline For Wednesday

11,600 remains a very strong support level being previous swing high from October 01. Just slightly below 11,475 and 11,550 was swing highs from September 10 to October 08, thus provided very strong support..

As such, a clear break below those zone has the potential to cause massive selling, with the next support at 11,100-11,200.

With the election coming up soon, President Trump is likely to forced the Fed to pump in massive liquidity into the system, thus keeping the market up for the election. 

Key line-in-the-sand for NQ on Wednesday will be 11,710, bullish above bearish below  it.

 

NQ Guideline For Tuesday

On Monday NQ dropped back down to retest prior swing high from October 01, and bounce. It was a one way trend down day on Monday.

Key line-in-the-sand for NQ on Tuesday will be at 11,720. If NQ should trade above 11,720 we could see NQ rally all the way up to 11,850-11,900.

However, should NQ remains below 11,720 we could see NQ trading back down to test supports. There are three layers of supports just below today low of 11,600. Lower supports are 11,550, 11500 and 11470.

It would requires extreme heavy selling to crash through these support zones.. Should it breaks, the next lower supports are 11,130-11,170

NQ Guideline For Monday

As usual, NQ traded sideways on Friday with a short burst of rally soon after the open, then revesed and trend down all day into the close.

At the end of the day on Friday NQ was in deep oversold zone on the intraday 5-minute chart. As such, on Tuesday we could see early morning bounce.

If the early morning oversold bounce does not clearly break above, key resistance at 11,900, we would then see NQ dropping down to below Friday low. If so support levels are at 11,700-11740, then 11,475-11,550

If, on the other hand NQ morning rally managed to break about 11,900, and stay above 11,900 the next upside target is 12,020, with minor resistance at 11,950

NQ Guideline For Friday

A huge gap-down open for NQ on Thursday, then traded sideways all day, in a narrow trading range.

With Friday tending to be a sideways day, we could see another sideways market on Friday, with resistances at 11,960 and support at Thursday swing low.

Key inflection price level for Friday will be at 11,830.

Resistances are at 11,950 and 12,030, with

Support at 11,740

NQ Guideline For Thursday

NQ remained in a pullback-down mode on Wednesday following a huge gap-up and trend-up day on Monday, a second pullback day. If the current uptrend is still strong NQ should rally on Thursday.

If, instead of rallying, NQ drop below Monday swing low where trailing stop-loss congregates, we could see NQ very quickly tank down to the next support zone, 11,550-11,600

In order for the current uptrend to resume, key resistance price level NQ needs to break on Thursday is 12,030, and stay above the level;

NQ Guideline For Wednesday

As expected, following a large up-trending day on Monday NQ traded sideways on Tuesday, consolidating the huge rally.

Consolidation day or days sets up another up-trending day, likely to occur on Wednesday and the trend should be up, as long as nothing unexpected happens overnight to drastically change the market outlook.

Key price level to watch for on Wednesday will be at 12,100. Trading above 12,100 implies a likely trending up day on Wednesday.

Trading below 12,100 simply implies NQ needs to consolidate further, and as long as NQ does not clearly break 12,000 support during consolidation, the rally should resume after consolidation has ended.

The next resistance is around double-top with September high, around 12,400. The short-covering is intense, I think NQ should break above September swing high before reversing back down..

NQ Guideline For Tuesday

A big gap-up and trend up day for NQ on Monday. Normally after a trending day we can expect a choppy sideways day on Tuesday. If so, strong support tomorrow will be at FT pivot, 12,050, or lower keltner, and resistance at upper keltner on the 5-minute chart

Key line-in-the-sand for NQ on Tuesday will be at 12,100, bullisk above, with upside target at upper keltner, and beariosh below wioth lower target at FT pivot and lower keltner on the 5-min chart.

NQ Guideline For Monday

Big rally in the equity market on Friday, with NQ opening with a big gap-up above resistance, then spent the rest of the day rallying up, with a close at the high of the day.

On Monday, it is possible after a big rally day last Friday that NQ may chop sideways before trending back up again on Tuesday. The only risk to the market rallying right now is the stimulus negotiations between Trump and the Democrat. Being this close to the election it is highly doubtful Trump is going to risk market meltdown before the election.

Key line-in-the-sand for NQ on Monday will be at 11,690. Above 11,690 the uptrend is still very much intact. Nest major rally target for NQ is at 12,000-12,100