NQ Guideline For Friday

NQ tried to sell-off in the morning but strong support held and NQ reversed sharply, rallied all day and close at the day high.

 

That type of pattern is usually followed by another higher high but tends to trade sideways, although it can also trend again tomorrow.

 

Key support tomorrow is 10,680

-- Bullish above it

-- Bearish below it.

NQ Guideline For Thursday

Another sideways consolidation type of day today likely due to traders and investors just waiting for the FOMC policy statements release in the afternoon.

 

Now that's out of the way we could see the market starting to move. The direction of the mover on Thursday will depend on where NQ opens in relation to key line-in-the-sand on Thursday

 

That key line-in-the-sand is 10,680

-- Above 10,680 we could see short-covering that can trigger a huge rally, up over 200 points. However, failure to stay above 10,680 could trigger a fast reversal down.

-- Trading below 10,680 is bearish and especially so if NQ breaks below 10,600. 

NQ Guideline for Wednesday

A narrow-range sideways consolidation day for NQ on Tuesday. It was also an inside day, a setup for potential breakout day on Wednesday.Key breakout price level for NQ on Wednesday will be at 10,510 support and 10,680 resistance.

 

Trading outside those price levels should trigger a trending move out of the range, in the direction of the break. It is also a potential set up for a false-breakout of the range. If so, the reversal will be fast and large.

 

10,510 Support

10,680 Resistance

NQ Guideline For Tuesday

NQ chopped around in the morning then finally settled down during mid-day and then rally the rest of the day closing at the day high.

 

On Tuesday NQ is likely to continue to rally in the morning, or gap-up open and then then reverse and trend down.

 

Key price level for NQ 10,620.

-- Breaking below 10,620 is an indication that NQ is going down lower to the next support level, 10,510.

-- Still in an uptrend as long as 10,620 support is not violated.

NQ Guideline For Monday

Following a large down day on Thursday, as expected NQ traded sideways on Friday after first making a lower low below Thursday swing low.

 

NQ is likely to spend more time consolidating sideways on Monday morning. As long as the consolidation or rally does not break above key resistance of 10,600, it should then decline back down to lower low below Friday swing low.

 

If on the other hand NQ consolidation or rally on Monday breaks above key resistance, 10,600 we could see it continuing to rally to the next resistance at 10,775.

 

Key intraday inflection price level is 10,4650. Bullish above it and bearish below it

 

NQ Guideline For Friday

As expected, after a choppy early morning price action NQ started to trend down. Breaking below day low started to run-over trailing stop-losses, causing the market to tank fast and large, generating a large down day for NQ on Thursday.

 

With Friday normally a choppy consolidation day, it is also still possible for NQ to trend down hard on Friday if the day low on Thursday which was a 20-period moving average on the daily chart is clearly violated..

 

If Thursday low is not clearly violated and NQ traded sideways, the first resistance is at 10,620 area. Failure to break above that level implies sideways consolidation or a down day. A clear and sustained break above 10,620 could start to run-over some trailing stop-loss and cause NQ to rally higher.

 

Key line-in-the-sand for NQ on Friday will be at 10,620.

NQ Guideline for Thursday

As expected Wednesday was a narrow range choppy type of day, the second choppy consolidation in a row.

 

Thursday is likely a trending day, either up or down. The key determinant will be where it trades in relation to key line-in-the-sand.

 

Key line-in-the-sand is 10,860

-- Bullish above with upside target above prior swing high, above 11,060

-- Bearish below 10,860, with lower target below 10,660 

NQ Guideline for Wednesday

A sideways consolidation day for NQ on Tuesday following a very large up day on Monday. There is a good change NQ may continue to consolidate again on Wednesday.

 

Key line-in-the-sand for NQ on Wednesday will be at 10,870

-- Bullish above with resistance at 10,950-10,960 area

-- Bearish below, with first support at 10,800 then 10,760, then 10,625

NQ Guideline For Tuesday

A very large rally day for NQ on Monday with NQ closing near the high of the day. This type of day is often followed by a consolidation day.

 

If followed by a sharp morning rally we could see a fast and sharp reversal down move either during late morning or afternoon.

 

A sharp pullback in the morning indicates a likely strong rally to higher high before pulling back down in late afternoon.

 

Key intraday support for NQ on Tuesday will be at 10,840-10,870

-- Normal pullback should be just to 10,840-10,870. As long as the price level is not violated we should see N2Q rallying to a higher high above Monday swing high.

-- If NQ should clearly break below 10,840 we should starts to see a larger decline to 10,760 zone.

NQ Guideline For Monday

Another very narrow range day for NQ on Friday. NQ is stucked between resistance and support. Until it can break out of the range we could see NQ continuing to be choppy and narrow range. Key support for NQ is 10,300. Until that support is broken NQ is likely to continue to chop around.

 

On the short-term intraday timeframe key price level on Monday will be at 10,620.

-- NQ is bullish above 10,620. and likely to rally to the next resistance at 10,760

-- NQ trading below 10,620 has a bearish bias and is likely to drop lower to the next support level, 10,500 a clear violation of that support could trigger heavy selling as stop-losses get run-over, with the next support at 10,300.

 

 

 

 

NQ Guideline For Fridsy

NQ traded sideways in a very narrow range on Thursday. The pattern of narrow range may continue until next week as Friday tends to be a choppy day. Current trading range is between 10,500 - 10,625

 

-- A clear break below 10,500 target lower support at 10,350

-- A clear break above 10,625 target 10775 resistance.

 

-- NQ needs to clearly break below 10,300 to cause a large crash

-- NQ needs to clearly break above 10,750 to cause a large short-covering rally to 11,050

NQ Guideline For Thursday

Wednesday was the second sideways consolidation day following a huge down day on Monday. As expected such a huge down day Monday would need a substantial consolo9dations before it trend again.

 

As such, NQ should trend again on Thursday, the direction is likely downward, however, if they can successfully cause NQ to trade back above 10,700 we could see shorts covering their short trades and reverses long causing a short-covering rally day.

 

Thus key price zone to watch tomorrow is 10,620-10,700

--Bullish above

--Bearish below

NQ Guideline For Wednesday

After s sharp selloff in the morning NQ reversed and spend the rest of the day rallying in a choppy manner, closing just below key intraday resistance, 10,700.

 

If NQ does not clearly break above 10,700 seller are going to re-short NQ again, which would likely cause another day of short sell-off day.

 

Should NQ break above 10,700 we could shorts being forced to cover, thus providing a lift for the market.

 

Strong support remains at 10,300 zone

NQ Guideline For Tuesday

On Monday NQ opened with a huge gap-up and a huge rally in the morning which quickly reversed and crashed down very fast a large starting at lunch.

 

Tomorrow's intraday pattern could either be a sideways consolidation pattern setting up for another large decline on Wednesday, or a continual decline/crash to the next critical support level. 10,300 on Tuesday.

 

10,300 should cause a sharp bounce. However, should NQ sliced down through it the next strong support is not until 10,100 then 9,800.

 

Key intraday line-in-the-sand tomorrow will be at 10,690 as first resistance, and 10,770 as second resistance .

NQ Guideline For Monday

After another sharp early morning sell-off with NQ tanking down to key intraday support, it rallied the rest of the day closing art the day high, and in extreme overbought territory on the intraday five minute timeframe.

NQ 5-minute Chart 

NQ is also in extreme overbought zone on the 60-minute time-frame and the daily time-frame, setting up a very high probability large (500-600 NQ points) 2 to 3 days pullback decline, key support is about 10,300 area.

 

First key price level to watch for would be the 200-ma on the 5-minute timeframe, currently at 10,700, but the most important price level to violate to confirm the 2 to 3 days pullback down is its prior day low because trailing stops are currently congregating just below prior day low. A clear and sustained break is likely to trigger a cascade of sell orders as trailing stop-loss gets run-over.

 

Key intraday line-in-the-sand for NQ on Monday is 10,775

-- Bearish below

-- Still bullish above it.

NQ Guideline For Friday

After a sharp morning correction NQ reversed and rallies to another higher high on Thursday. With the close near the high we could see another higher high oon Friday if the open ois above key line-in-the-sand.

 

Key line-in-the-sand on Friday will be at 10,700

-- If the open is above 10,700 we could see NQ rally up in the morning then reverse back down.

-- If the open is below 10,700 we could see NQ dropping down to support, 10,620 before rallying back up again.

NQ Guideline For Thursday

The Fed recently announce that they are going to increase their balance sheet from 7 trillion to 10 trillion in the near term of a few months. The amount is going to continue to increase at an exponential rate,, and they are effectively monetizing the debt. As such, hyperinflation of the paper money is not far away.

Hyperinflations will lead to a sharp increase in the value of stock, as we cam see from Weimer Republic and more recently the Zimbabwe and Venezuela collapse.

 

On the intraday basis, key line-in-the-sand for Thursday will be at 10,600. At the end of the Day on Wednesday NQ looks ready to rally a bit further up before pulling back down.

-- Bullish above 10,600, next upside target is above Tuesday swing high.

-- Bearish below 10,600

NQ Guideline For Wednesday

As expect, after first testing Floor Traders support in the morning on Tuesday NQ rallied to a higher high above Monday swing high before reversing back down to key support, and close right at support, setting up a possible gap-down and run-down day on Wednesday.

 

Key Line-in-the-Sand for NQ on Wednesday will be at 10,520

--  Trading below 10,5200 has the potential to trigger heavy selling. If so, the next major support is not until 10,300.

-- Trading above 10,520 could cause a temporary rally before dropping back down. NQ would need to rally above 10,640 to cause a short-covering rally.

NQ Guideline For Tuesday

NQ opened with a huge gap-up on Monday, then after trending up in the morning NQ pullback down  during lunch hours, rally in the afternoon into the close, with a close near the high of the day..

 

On Tuesday we could see NQ rallying to higher high with or without an early morning pullback. If so we could then see NQ reversing back down towards support in the afternoon, first support at 10,560, the floor traders pivot level, then dropping down lower to the next support zone, 10,460 area.

 

Key NQ intraday line-in-the-sand is at 10660, key support/resistance level.

NQ Guideline For Monday

The market was closed on Friday for the 4th of July holidays, but on Thursday NQ broke out to new high and then traded sideways above breakout level of 10,300, setting up a high probability trending day, the directions will depends on where it trades in relation to its key line-in-the-sand level..

 

On Monday, NQ either trend up to a new higher high, or trend down. The key line-in-the-sand level to help determine the direction of Monday trend is 10,300.

 

-- Trading above 10,300 is bullish with very high probability of NQ trend up all day.

-- Trading below 10,300 is bearish, also with a high probability of NQ trending down all day.

NQ Guideline For Thursday

Another large rally day for NQ on Wednesday, a third up-day in a row, a very unusual pattern, clearly a manipulated rally for the long 4th of July weekend. With most traders out of the office on Thursday we would see a choppy narrow-range type of day.

Line-in-the-Sand for NQ on Thursday will be at 10,260.

-- Bullish above, likely making another higher high above Wednesday's swing high.

-- Bearish below, with supports at 10,230, 10,200 and then 10,100.