NQ Guideline For Wednesday

On Tuesday, NQ rallied in the morning and then sold off in the afternoon closing near the low of the day, a bearish close .

Key inflection price level for NQ on Wednesday will be at 7830
-- Bullish above it
-- Bearish below it with first support at 7710, then 7560, then 7400

Now that the end of quarter rebalancing activities have ended, the downtrend can resume.

NQ Guideline For Tuesday

A bullish day for the equity market on Monday. With NQ trading above 7660 key support at the open, the bias for the day was to the upside, and it rallied with no reversal all day.

 

With the fund end of quarter rebalancing still in play on Tuesday we could see another bullish or sideways day on Tuesday, unless selling comes in early.

 

Bothe the Dow and the S&P 500 are still below its respective 20-ma on the daily chart, and still below key Fibonacci numbers. Only the NQ has broken above the 20-ma. Thus unless both the Dow and the S&P 500 can break above their key 20-dma resistance, any upside move will be limited.

 

As such key inflection price zone for NQ on Monday will be at 7830

-- As long as NQ remains above 7830, the bias is up.

-- Trading below 7830 is bearish but there are several supports that could stall any decline. They are 7780, 7720, and 7560.

 

NQ would need to break below 7400 to get major liquidation selling to starts again.

NQ Guideline For Monday

After a huge opening gap-down on Friday NQ spent most of the day rallying up into key resistance, the 20-day moving average on the daily chart. Once it got to the 20-ma resistance, sellers sold the market hard, tanking NQ back down to below early morning low, and closed there.

 

The end of day low was just above oversold level, and may need to rally back up in the morning before dropping back down again.

 

However, should the rally breaks above 200-ma on the 5-min chart, we could see NQ going back up to retest Friday's swing high, 7800

 

Key inflection price level for NQ on Monday is 200-ma on the 5-minute chart, 7660

-- Above 7660 implies bullish bias, updise target is Friday high, 7800.

-- Below 7660 is bearish, first downside target/support is 7400, s strong support zone.

 

On Friday Trump sign historic stimulus package deal

NQ Guideline For Friday

A very choppy rally on Thursday with NQ bumping against 20-ma resistance on the daily chart, key level going onto Friday.

 

Federal Reserve and the government may be willing to spend trillions of dollars buying equities to push the market higher. In the short run they may win, but deflatio9nary forces is so great that even the government and central banks would not be able to keep the market up for very long.

 

On Friday, key intraday LIS for NQ will be at 7750.

-- Bullish above it but 7850 is a very strong resistance area, the 20-ma on the daily chart where sellers comes back in to sell.

-- Bearish below 7750, with key support, 200-ma on the 5-minute chart at 7600, a clear break could tank the market again and implies a resumption of the downtrend.

NQ Guideline For Thursday

NQ continued to rally in the morning on Wednesday but sellers were aggressive in the afternoon, NQ tanked hard dropping to just above key support on the 5-minute chart at the close.

The open will key important on Thursday. If the open remains above key support at 7400 we could see morning bounce before selling resumes. Resistance on the bounce is at 7650

However, opening below 7400 could trigger margin selling right away, and could cause liquidation drop. Supports are at 7300, 7200 and 6800.

Agreement on the stimulus plan could stall and delay the anticipated decline on Thursday

NQ Guideline For Wednesday

A huge rally in the equity market on Tuesday due to a combination of factors, the anticipated stimulus and the extreme oversold conditions.

This rally could last 2 to 3 days or 6 to 7 days before the downtrend resumes again. Tuesday is day one, thus we could see a resumption of selling on Wednesday, day 2.

 

Key level to watch for that will be 7200.

-- Above 7200 we could see more rally or sideways actions.

-- Below 7200 we should see heavy liquidation selling again.

 

Key intraday LIS for NQ on Wednesday will be 7450

-- Support is 7200

-- Resistance is 7550-7600

NQ Guideline For Tuesday

NQ traded sideways on Monday, selling off in the morning but looks ready to rally in the afternoon. The closing price was still below key price level, the 200-ma on the 5-minute chart, which at Monday's close was at about 7150.

 

If NQ can trade above its 200-ma on the 5-minute chart (about 7150) on Tuesday then we should see a rally day. If so, strong resistance is at 7500.

 

If NQ failed to stay above 200-ma (7150) selling could come back in, with 6800 a key support

 

The fate of the stimulus plan will determine the direction of the market on Tuesday

NQ Guideline For Monday

The stock market sold off hard on Friday. With the stimulus package still under negotiation between the Democrats and the Republican, we could see the market selling hard come Monday morning.

 

Looking at the overnight trading NQ has broken below March 18th swing low. Trading below that on Monday implies wave 5 down on the daily chart is in progress.

 

If they are able to keep NQ above March 18th swing low on Monday morning and then cause a rally day , it is an indication wave 4 is still in progress.

 

Key price level for Monday is March 18th swing low, 6820.

-- Rally above it

-- Free-fall below it

NQ Guideline For Friday

NQ remains above key support on Thursday, thus was able to rally most of the day, but then sold off into the close.

Key inflection price zone is at 7250. Key support on Friday will be at 6950.

-- Trading below 7250 in the morning could see some selling down to key support 6950. As long as NQ can stay above 6950 on any selling, we could see NQ rallying back up to 7250 and then if that breaks, to higher resistance 7500 or higher.

-- A break below 6950 could trigger a liquidation decline to the next lower support level, 6000.

NQ Guideline For Thursday

A sideways pattern for NQ on Wednesday, with morning rally, followed by lunch sell-off and the end of day ramp into the close.

 

7000 price level on NQ March futures contract will again be a key price level on Thursday. If it can hold any selling pressure on Thursday we can see rally up to 7550 or all the way to 7800.

 

If 7000 price level does not hold we could see NQ dropping down to the net major support at 6750. Should that does not provide support, the next lower support is at 6000

 

NQ Guideline For Wednesday

With all the so called "stimulus" provided by the government and Federal Reserve, they managed to hold the selling to a minimal. However, the equity futures has already stared to sell-off again overnight. Where it opens and trade on Wednesday will determine whether we get another selling day or another consolidation/rally day

 

Key price range is 7250 key support and 7550 key resistance (7250-7559 trading range)

-- Selling below 7250, key support is again at 7000

-- Rally above 7550 with the next upside resistance at 7800

NQ Guideline For Tuesday

NQ rallied to resistance in the morning and was sold, tanking to a lower low at the end of the day. he equity futures has rallied overnight on Monday night.

 

Key resistance for NQ on Tuesday will be 7400. If NQ can stay above 7400 we could see an up day tomorrow.

 

However, we must keep in mind that the daily chart trend is still down in a very strong way. The declining momentum on the daily chart is still very strong.

 

If NQ 7000 support beaks, we could see another powerful liquidation decline.

NQ Guideline For Monday

The US Federal Reserve Bank cut interest rate to zero on Sunday, so unprecedented that they must be seeing some potential disaster coming. As such, Monday trading session could be crazy.

Potential intraday inflection price zone for NQ on Monday is 7600. However, anything is possible.

NQ Guideline For Friday

Another huge down day and another day the stock market was halted from trading for fifteen minutes as circuit breaker was again triggered due to extreme selling pressure.

 

Very volatile trading in the equity futures in overnight trading, an indication central banks might have aggressively intervened. As such, anything can happen on Friday. Selling pressure remains extremely intense.

 

Key resistance is 7850 on Friday

NQ Guideline For Thursday - Crash Alert

The stock market futures is already crashing to new lows in overnight trading on Wednesday night. Without a miracle it should continue crashing into the opening bell on Thursday.

Key NQ support/resistance for Thursday is 7850

-- NQ is in free-fall below it.

-- Above it the next resistance is the 200-ma on the daily chart 8250

NQ Guideline For Wednesday

With NQ still trading above breakout support of 7850 on Tuesday, NQ rallied and closed at the day high. As long as NQ remains above 7850 the market could continue to rally or trade sideways on Wednesday.

 

Key intraday inflection price zone for NQ on Wednesday is 8150,

-- Resistance is 8400, 8600

-- Support 7850

NQ Guideline For Tuesday

After heavy selling on Monday the selling may pause for a day and may rally on Tuesday. However, selling could come back at anytime and at any level as many investors are force to sell whatever they own to raise capital or to pay margin call

 

On the intraday timeframe for Tuesday key inflection price level for NQ is 8050.

-- Resistance is at 8250 the 200-dma on the daily chart, and 8400 prior consolidation low.

-- Support is again at 7850 prior swing high now strong support.

NQ Guideline For Monday = Crash Alert

Key support for NQ on Monday is the 2019 breakout price level, which is the 2018 October high, 7850.

NQ Guideline For Friday

Central bank failed to push the stock market up on Thursday, the market now closed in the red for the day.

 

It is interesting that NQ on the daily chart is stuck between strong resistance the 50-day moving average 9100 and strong support the 200-day moving average at 8200.

 

NQ can drop down to support 8200 in one day, and can also rally to resistance 9100 in one day. Market forces is selling, and central banks are buying. 

 

Who ultimately will win? We just don't know, but any rally towards the 9100 area is a high probability sell zone first target is a break below recent low,  below 8150.

NQ Guideline For Thursday

A small choppy rally day for NQ on Wednesday. The rally is now bumping into strong resistance zone between 8900 to 9100.

 

Resistance comes from prior swing low from January 27th and January 31st pullback low now resistance, then of course 9100 resistance is the 50-day moving average on the daily chart.

 

Failure to clearly break back above those strong resistances in the next few days is going to bring back another round of algos selling that can crash NQ back down to its 200-dma moving average support on the daily chart.

 

he current corona virus outbreak is going to cripple global supply chain

Many trailing stop-loss for the buyers is now just below Wednesday swing low. A clear break below Wednesday swing low is an indication the current bounce has ended, and a retest of the recent low is very likely the next target for the market.

NQ Guideline For Wednesday

Massive central banks intervention and a surprised 50 basis point rate cut by the Fed on Tuesday caused a quick spike higher in the morning that quickly faded away.

Intraday Tuesday NQ pullback down to the 200-ma key support, which held. If the downtrend is going to resume NQ should take out the recent low and break below the key 200-day moving average on the daily chart on Wednesday or Thursday.

 

If the low is not taken out tomorrow or Thursday, we could see NQ bouncing back up to its 50-day moving average on the daily chart before dropping back down.

 

Key intraday price level for NQ on Wednesday will be 8500.

-- If NQ could hold above 8500 we could see a rally to resistance at 9000 or all the way to the next higher resistance 9100.

-- If NQ should trade below 8500 we could see another round of algorithm selling, with support at its 200-dma on the daily chart, now at 8200. A break below that would cause a massive crash.

NQ Guideline For Tuesday

Big rally in the equity market on Monday, a second day up in a row, due to a combination of factors including  an extreme oversold condition and massive global central banks intervention.

Tuesday will be the third pullback day. The third pullback day is often the day the trend resumes, which in our current case, it is when the market should resumes its down trend. Massive central banks intervention could temporary stop that from happening.

 

Thus on Tuesday, I am looking for either, first a rally to resistance, then sell-off, or immediate selloff from the opening bell, and it depends on the degree of central banks interventions.

 

For NQ, resistances where sellers would come back in area 8925 a prior swing low, and then 9100 the 50-day moving average on the daily timeframe (dally chart)

 

Key intraday support on Tuesday will be 8500.

-- If NQ can stay above 8500 we could see rally attempt, with resistance at 8925 and 9100.

-- Below 8500 NQ is in free-fall mode

NQ Guideline For Monday

The equity market closed in positive territory on Friday. NQ bounced off a combination of strong supports including the 200-day moving average on the daily chart (chart below) and the prior swing high from July 2019 swing high, now acting as support.

 

Key to intraday pattern on Monday will be the degree of intervention by world central banks, and where the market trades in relation to its key intraday price inflection level.

 

For NQ key price inflection level intraday Monday will be at 8400.

-- Above 8400 we could see NQ rallying to key intraday resistance at 8500-8550.

-- a sustained break above 8550 could trigger profit-taking and short-covering rally, with next upside target at 8800.

-- Trading below 8400 in the morning could trigger another round of massive liquidation selling, with first target down at Friday's swing low.