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

NQ Guideline For Friday

A sideways choppy trading action for NQ on Thursday as it continues to trade just below key resistance price level at around 11,600 area.

11,600 price zone will continue to be key level to watch going forward as so many stop-losses and buy triggers resides just above 11,600.

Thus a clear and sustained break above 11,600 could cause massive short-squeeze, rocketing NQ up to 12,100-12,100 in one to 2 days..

NQ Guideline For Thursday

After Trump tweeted that he is willing to negotiate the stimulus package with the democrats the market was engineered higher overnight on Tuesday nigh and NQ opened with a huge gap-up on Wednesday. The shorts were then forced to cover, NQ rallied all day to 11,500 resistance.

Resistance zone remains at 11,500-11,600. Should NQ failed to break above 11,600 we could see another rounds of distribution selling that could tank the market down quite hart.

Key support for NQ on Thursday will be at 11,430. A break could tank NQ back down to supports, first support at 11,340-11,350, then if 11,340 is violated the next lower support is at 11,150-11,200.

NQ Guideline For Wednesday

11,500 area continues to be a powerful resistance for NQ with Tuesday attempt to break above it attracted heavy selling pressure again. tanking NQ back down to support.

Key price level going forward are 11,500-11,600 resistance zone and 11,150-11,200 as key support, with 11,350 as balance price level.

A break out of the 11,150-11,600 should trigger strong trending move out of the range.

NQ Guideline For Tuesday

A huge gap-up open above resistance caught many shorts on the wrong side of the trade, as such trigger short-covering activities that lasted all day into the close.

Depending on where it opens in relation to its line-in-the-sane on Tuesday, we could see more rallies or more selling.

Line-in-the-sand for Tuesday will be at 11,430, bullish bias above, bearish bias below.

NQ Guideline For Monday

On Friday NQ sold off hard, started with a huge gap-down, then trend down all day with a close at the low of the day.

The low was just above strong support provided by prior swing high, and should hold, NQ should resume its rally on Monday. 

However, a violation of 11,150-11,200 support is an indication selling pressure is intense and bearish for the market. With the election coming in early November, the Fed is likely to try to provide as much liquidity into the market to cause the market to rally into the election.

Key intraday line-in-the-sand for NQ on Monday will be at 11,300.

Bullish above with upside target at 11,450 the 200-ma on the 5-minute chart. Bearish below 112,300 with support at 11,150-11,200

 

NQ Guideline For Friday

A narrow range choppy trading pattern for NQ on Thursday as sellers and buyers continues to be in balance. On Friday we could continue to see another choppy sideways trading pattern as traders balances their books

Key line-in-the-sand for NQ on Friday will be at 11,550, support at 11,480 and resistance at 11,660