NQ Guideline For Friday

As expected, following a narrow-range day on Tuesday,NQ opened above breakout level, thus triggered massive short-covering that lasted most of the day on Wednesday, as resulted in a large uptrending day on Wednesday.

With the stock amrket close for Good Friday holiday on Friday Thursday could be a sideways narrow range day, trading inside a narrow range of about 100 points.

Having said that, we should always watch out for the unexpected. For example, if NQ should trade above the 50-day moving average then abobr triple top, we could still get massive short-covering that can last all day. The probability of that happening is low.

Key line-in-the-sand for NQ on Thursday will be at 13,060 as key support, and key resistance at  13,160-13,180.

NQ Guideline for Wednesday

NQ traded sideways on Tuesday, in a very narrow range trading pattern. However, a narrow range day is often a setup for a large range day.

Key price level to watch for on Wednesday will be at 12,880, bullish above and bearish below it.

In order to trend out of the range, NQ would need to break above 13,000 and trigger short-covering to propel NQ upwards, with first resistance at 13,200 then 13,300

Key support to break to the downside is 12,700, and it needs to have a sustained break below 12,700 to trigger a trending move down.

NQ Guideline For Tuesday

On the daily chart, NQ pattern is very bullish, an inverse head and should pattern projecting a rally to at least double-top at 13,850 area. However, in order to rally up to that target, NQ would need to clearly  breaks above 13,300 triple-top resistance.

On Monday, after pulling back down from overbought condition NQ resumed the rally,  however, it continued to bump up against strong resistance at 13,000, and failed each time.

Strong resistance zone range from 13,000 to 13,075. then 13,175. 

A break above 13,000 could trigger short-covering rally that has the potential to rocket through 13,175 double-top resistance . If so the next very strong resistance is 13,300. Breaking above 13,300 implies a quick rally towards 13,850 swing high.

If  NQ should drop back down below key support at 12,700, the stage is set for massive liquidation selling to tank NQ down to 12,200 or lower.

NQ Guideline For Monday

On Friday, NQ traded sideways as usual, and as expected. Then the end of day plus the end of the week profit-taking (buying activities) sent NQ rocketing up from oversold level, rallied about 300 NQ points from the day low into the close.

The end of day rally puts NQ into overbought zone on the 5-min chart, thus, likely to have a pullback down to support in the morning on Monday before resuming the rally, that is a long as support hold on any pullback down move. Next key resistance is 13,050. A clear break above 13,050 could rocket NQ up to 13,150, then 13,300

If however, NQ should decisively/clearl;y drop below key support, around 12,820 zone on any pullabck decline move on Monday, then that implies a change in trend from up to down. If so the next key support is again, 12,700, a break below 12,700 is very bearish.

NQ Guideline For Friday

Following a large trend-down day for NQ on Wednesday, NQ traded sideways on Thursday consolidating the large trend-down day. With Friday tending to be a choppy sideways day, we could see another choppy sideways day on Friday.

For Friday's trading, key support is at 12,780 and key resistance at 12,880. A sustained break out of the 12,780-12,880 could cause a large move out of the range. Failure to breakout, we could see a retest of the opposite range. A false breakout will also likely to reverse to the opposite range.

NQ Guideline For Thursday

As expected NQ trend down on Wednesday, and then close at the low of the day as buyers capitulated into the close, setting up a sideways consolidation day on Thursday, as long as it does not violate its critical support at 12,700.

Trading below 12,700 could cause massive selling that could tank NQ down to 12,200 or lower. However, if NQ could stay above 12,700, we could see NQ trading sideways on Thursday.

NQ would need to break-back above 13,080 to turn the trend back up. Until then, the downtrend is in progress.

NQ Guideline For Wednesday

Following a large uptrending day on Monday, it was expected that Tuesday would be a choppy sideways consolidation dat.

NQ is likely to trend again on Wednesday, the directipn could be up, but it could also be down, the odds seems to be 50/50 on the trend direction.

Key line-in-the-sand for NQ on Wednesday will be 13,080, bullish above, bearish below it.

NQ Guideline For Tuesday

NQ was engineered higher before the open on Monday, to cause the open with as huge gap-up above key resistance, forcing the shorts to cover which lasted until early afternoon.

Once short-covering ended NQ started to drop down quite sharply, setting up potential continual decline in the morning, with first support at 13,020 and then 12,940. 

On the daily chart, the trend direction for Tuesday is unclear, as it could go either way, with key resistance at 13,120 and key support at 12,940

Line-in-the-sand for NQ on Tuesday will be at 13,120, which is also a key resistance level. Bullish above it bearish below it. 

NQ Guideline For Monday

On Friday NQ bounce from a combination of oversold and support, then raded sideways, setting up a big move from here.

Key support for NQ is 12,700, below which the longs trailing stop-loss could starts to get run-over. . As long as NQ remains above 12,700 we could see NQ either bouncing/rallying or trade sideways. Below it, we could see sharp selling, with next support at 12,200.

Key resistance where trailing stop-loss congregates above is 13,325. Short-covering should starts above that level.

NQ Guideline For Thursday

On Thursday NQ opened with a huge gap-down, all the way down to below key support. Then after a choppy sideways consolidation NQ trend down in the afternoon and then close to very near the low of the day, closing just above key support, at 12,780.

Should 12,780 breaks, there is a stronger support at 12,700-12,720 price zone. A sustained break below 12,700 is going to cause massive a quick decline to 12,200 srong suport zone. 

Massive money printing is starting to cause a runaway inflation and spike in interest rate. If rates continues to spike, we could start to see a very disorderly market decline, a crash.

NQ Guideline For Thursday

On Wednesday after their policy announcement, the Fed triggered massive buy programs to push the stock market up towards triple-top resistance. 

The Fed buy programs tends to continue the next day after the FOMC announcement, and they are likely to try to push NQ up above triple-=top resistance in order to force the shorts to cover and cause a massive rally.

As such, key price zone for NQ is now and going forward is at 13,300-13,325. A sustained break above 13,325 is likely to trigger massive short-covering that would rocket NQ up to re-test February swing high within a few days.

Failure to break above 13,325, or a false-break above it, would cause a shrp decline back down.

Intraday Line-in-the-Sand for NQ on Thursday will be at 13,200, bullish above, bearish below with first support at 13,100

NQ Guideline For Wednesday

NQ opened with a huge gap-up on Tuesday, which as expected cause the shorts to cover. NQ quickly rallied to triple-top resistance with February 22 and March 0-1 swing high. 

NQ failed to break above it, as such, short-Sellers came in a quickly tanked NQ back down. However, NQ managed to bounce from support and then close as a doji candle pattern on the daily chart. 

Doji candle;e is an indication that the number of bears and bulls are even. Thus on Wednesday NQ should make a decisive decision, and it could depends on what the FOMC will say after their meeting on Wednesday.

Key line-in-the-sand will be at around 13,180, bullish above it and bearish below it

NQ Guideline For Tuesday

After trading sideways on Monday NQ finally broke out to the upside. As long as 10-year treasury yield does not breakout to new high on Tuesday NQ rally should continue.,

The FOMC meeting will start on Tuesday and police announcement on Wednesday. They are going to try their best to be carefull with what they say because the market could easily collapse if their statement is not considered as positive by the market participant.

Intraday LIS for NQ on Tuesday will be at 13,000., bullish above and bearish below it.

Line-in-the -Sand For NQ on Monday = 12,900.

On Friday, NQ opened with a gap-down below support, then after bouncing back up to re-test broken support-turned resistance, NQ trend down to to just above the next lower support zone before rallying abck up to re-test resistance.

It took NQ all day to finally brak above resistance and close above resistance, 12,900, which will act as line-in-the-sand for NQ on Monday.

If NQ should open above 12,900 we could see NQ rallying up to the next resistance zone between 13,000 to 13,050 area. If NQ should break above 13,050 and stay above 13,050, it could trigger more buying with the next upside target at 13,300.

If NQ should open below 12,900 on Monday NQ could tank to the next support level, 12,700 to 12,750 support zone. A sustained break below 12,700 is likely to trigger sell programs that could tank NQ down to 12,200-12,400 zone.

NQ Guideline For Friday

As expected, NQ opened above breakout resistance. After trading sideways in the morning NQ then trend up all day into the close.

It is very likely that NQ would trade sideways-on Friday simply because Friday tends to be a choppy sideways type of day, and also because Thursday was a trending day.

However, as always, anything is possible, so be on a lookout for trending move on Friday. Trending Fridays has less than 10% chance of happening.

Resistance for Friday is 13,150-13,200, and supports are 12,850 and 12,900

NQ Guideline For Thursday

A choppy pullback down day for NQ on Wednesday, setting up a big move, and the big move could come on Thursday.

Key price level for NQ on Thursday will be between 12,700 as support and 12,850 as resistance. A breakout of the 12,700-12,850 trading range could set up a large trending move out of the range.

On a breakout to the upside, the next upside resistance above 12,850 are at 13,060  and then 13,300.

On a breakout below 12,700 support the lower support levels are 12,500 then 12,200

NQ Guideline For Wednesday

Massive buying binge by the Fed in the treasury market to push the treasury yield down before the open plus a massive buying binge in the equity market to push the stock up to cause a huge gap-up to trigger short-covering rally. 

Short-covering lasted all day. Without further intervention by the Fed the market should go back down tomorrow. If they decide to buy agzain, we could see another up day on Wednesday.

For Wednesday, key intraday support for NQ is at 12,700. Bearish below, next support is at 12,520, and bullish above, targeting a retest or the Tuesday high or higher.

NQ Guideline For Tuesday

A down day for NQ on Monday as the 10-year treasury yield continue to rise. After making a higher high above Friday high, NQ then trend down all day, closing at the day low.

For Tuesday trading range for NQ will be at 12,200 as key support and 12,530 as key resistance, 12,200-12,530 trading range, with the mid point at 12,400, bullish above 12,400 with first resistance at 12,530, and bearish below 12,400, with key support at 12,200.

A break out of the 12,200-12,530 trading range could cause a fast trending move out of the range. However, as always, be on the lookout for falsebreak with fast reversal.

NQ Guideline For Monday

On Friday morning, after dropping down to support provided by previous swing highs in October and November last year, plus a 1:1 drive down from February swing high,  NQ rallied in a massive way from buying activities at support and end of the week profit-taking.

NQ rallied up to just below formidable resistance from 12,750-12,810, and failure to clearly break above those resistance is going to attract a new wave of selling. If so, NQ could retest the low again.

For Monday trading, key line-in-the-sand for NQ is 12,500. If NQ can stay above 12,500, we could see NQ breaking above Friday high. Should NQ trade below 12,500, we should see a lower low below Friday low.

NQ Guideline for Friday

Another down day for NQ on Thursday. If the 10-year treasury yield stays above 1.50% on Friday we could see NQ crashing down again. If yield can decline, then NQ should rally.

Line-in-the-sand for NQ on Friday will be at 12,510 zone, bullish above, with first resistance at its 200-ma on the 5-min chart.

Bearish below 12,510.

NQ Guideline For Thursday

A large down day for NQ on Wednesday. With NQ closing at the low, and sitting at support, a sustained drop below Wednesday low cou7ld easily tank out of control, especially  with the S&P 500 futures (ES) closing just at iots 50-day moving average on the daily chart.

A break below Wednesday low for NQ and ES breaking below its 50-day moving average could really tank the market very hard. For NQ the next downside target is around 12,100, with several supports coming in at around 12,450, and then 12,220

NQ Guideline For Wednesday

A down day for NQ on Tuesday, morning decline, afternoon rally, then afternoon down

Key support for NQ on Wednesday will be at 13,100, bearish below it and bullish above it until it reaches key resistance at 13,200. A break above 13,200 implies bullish day. Between 13,100 and 13,200 NQ may get choppy

NQ Guideline For Tuesday

A gap-up opened for NQ on Monday trapping the shorts, triggering short-covering acttivioties all day on Monday into the close.

This type of day is usually followed by another higher-high, it could also be another trending up day but it is more likely a sideways day, with either a nmorning rally that reverses or a morning pullback followed by a rally.

Key support level for NQ on Tuesday will be at 13,225, bullish above with first resistance at double top, 13,325, if it can break through that look for sharp short-covering rally to the next target at 13,390.