NQ Guideline For Friday

NQ failed to breakout above key resistance on Thursday. After testing 15,080 resistance multiple time on Thursday NQ eventually dropped back down to key support.

Overnight during globex trading, NQ has sold off hard, dropping down about 200 points from the close, setting up a potentially large down day on Friday, with key support at 14,780. Should 14,780 breaks we could  see a cascade of selling if the bulls decide to bail.

Key intraday line-in-the-sand for NQ pon Friday will be at 15,000, bullish bias above, bearish bias below it.

NQ Guideline For Thursday

Wednesday was the second pullback day for NQ following six up days in a row. If the uptrend on the daily chart is still in progress NQ should rally on Thursday and it should be a trending-up day.

Should NQ fail to rally on Thursday we know that the current uptrend on the daily chart has ended. If so, we should see NQ breaking back below 20-ma on the daily chart, and likely tank..

On an intraday time-frame, for Thursday, key line-in-the-sand for NQ is at 15,000, with 15,080 as key resistance to break through. 

If NQ could break above 15,080, and then trigger some short-covering and some buy programs, we should see a large up-trending day.on Thursday with the upside target at 15,200-15,300 area.

NQ Guideline for Wednesday

A very big down day for NQ on Tuesday, with NQ dropping down over 300 points from the day high to the low of the day. NQ reversed back up in the afternoon and then close inside a choppy range between 14,860 key line in the sand and resistance, 15,040.

NQ would need to break below Tuesday low to trigger another strong liquidation drop.

NQ Guideline For Tuesday

A choppy and narrow-range sideways trading action on Monday following a large up-trending day on Friday.

Tuesday could be a resumption of uptrend if NQ can trade and stay above 50-ma on the 5-minute chart. As of the close on Monday the 50-ma on the 5-minute chart is at 15,100, which will be key line-in-the-sand for NQ on Tuesday

If NQ should trade back below 50-ma on the 5-minute chart on Tuesday morning, it implies NQ consolidation is still in progress. 

NQ Guideline For Monday

A trending up day for NQ on Friday but then close at a price level that would be a key line-in-the-sand level for trading NQ on Monday, the price level is at 15,100.

If NQ should open and trade below 15,100 on Monday morning, we would likely see a choppy non-trending type of day, likely a pullback day, with strong support at 15,000 .

If NQ should open above 15,100 and then able to stay above 15,100, we could see another trending up day again on Monday.

NQ Guideline For Friday

NQ continued to rally on Thursday. The candles on the daily charts looks impulsive to the upside for the last four days, looks set to break the recent swing high of 15,000, whether it will occurs on Friday or next weeks, only time will tell.

On the daily chart, the higher high would come with a bearish momentum divergence, and with the S&P 500 spotting a very bad breath, setting up a rally to higher high to be followed by a sharp reversal back down to starts the l;tong awaited bear market. 

The Fed and all the other central banks is likely to continue to buy the stock market, but they may not be able to push the market much higher against a powerful forces of deflation.

Look for higher high divergence to start a new sharp deflationary bear market that will last until next year.

Key intraday line-in-the-sand for Friday will be at 14,900, and key resistance is at 15,000

NQ Guideline For Thursday

As we know, the stock market is highly manipulated by central banks, including the the Fed, as they can conjure any amoput of digital currency into existence without any production cost whatsoever. Under any normal market consitions, we should be looking for a lower high on this current simply because it has broken its 20-day moving average on the daily chart.

Because the stock market is not a free market as it used to be, we can expect just about anything to happen. For NQ the last three consecutive up-days has been impulsive and looks set to make a higher high above the recent high of 15,000. 

Thus as long as NQ does not violate its previous day low, the uptrend should continue as shorts gets squeezed and forced to cover.

Key NQ intraday line-in-the-sand for Thursday will be at 14,780.Bullish above it and bearish below it, with NQ first intraday support on Thursday at 14,720.

On Tuesday, NQ opened with a gap-up, then after pulling back down to support it then trend up all day into the close, with a small profit-taking decline at the end of the day.

On Wednesday NQ look's set to trade sideways with support at 14,620 and resistance at 14,800. As long as NQ remains inside the 14,620-14,800 trading range, NQ should trade sideways. 

However, although not very likely, should NQ trade out of the above trading range, look for NQ to trend again, up or down. 

NQ Guideline for Tuesday

On Monday NQ opened with a huge gap-down to below its 20-day moving average on the daily chart, then traded sideways all day , setting up for a choppy sideways day on Tuesday. Key intra-day price level for NQ on Tuesday will be at 14,580 resistance and 14,460 support.

Trading above 14,580 could trigger some buying that could help push NQ higher to 14,680 first resistance. Trading below 14,460 could trigger another big sell-off, with ultimate downside target at 13,800-14,100 strong support zone.

What I think is likely to happen the next several days, Tuesday and Wednesday, are choppy sideways type of days, trading below 14,800, then tank again on Thursday or Friday. 

Having said that, anything is possible. If NQ started to rally up in a big way the next several days, we could see NQ re-testing the recent high or even higher high above 15,000.

NQ Guideline For Monday

Another down-trending day for NQ on Friday, following a down day on Wednesday and Thursday. From the high on Tuesday July 13th 2021, NQ had 3-consecutive down days, with Friday close not too far above the 20-day moving average on the daily chart, we could see a quick drop down to the 20-dma on the daily chart, now at around 14,600, then rally for one or 2 day.

Also as likely, NQ could drop-down to break below the 20-dma on the daily chart, then pullback up to the 20-dma  before dropping back down to its 50-dma, or just drop down very quickly to the next support, the 50-dma on the daily chart now at around 14,000 .price level.

If the 20-dma on the daily chart should cause a sharp bounce, it is an indication NQ is going back up to re-test the high from July 13th.

NQ Guideline For Friday

A down-trending day for NQ on Monday, likely from profit-taking as NQ is in extreme overbought conditions on the daily time-frame.

On Friday we could could expect a sideways consolidation type of trading pattern unless see NQ trading below Thursday low. As Friday tends to be a sideways type of days, we could expect a sideways trading pattern on Friday.

Key inflection price level for NQ on Friday will be at 14,800, with first resistance at 14,860, and first support at 14,700

NQ Guideline For Thursday

NQ traded sideways again on Thursday. The intraday 5-minute time-frame technical pattern is showing a potential for another sideways pattern again on Thursday, with rally potential upside target at 15,050 zone if NQ can maintain a sustained break above 14,990 area. 

On Thursday, NQ Support is at 14,840. with lower support at 14,800.

NQ Guideline for Friday

NQ opened with a huge gap-down, something that is likely to happen as NQ is currently very overbought on the daily time-frame and also on the shorter term time frames, the 60-minute and the 5-minute time frames..

Buyers immediately came back in to buy, pushing NQ sharply back up until it reached its strong intraday resistance, the 200-ma on the 5-minute chart before pulling back down.

The end of day pattern on the 5-minute charts looks like it should rally tomorrow on Friday in the morning if NQ can open above its 200-ma on the 5-minute chart, now at 14,740, with the first resistance above the 200-ma at 14,850.

If Thursday selling was more than just a one-day event, then NQ should stay below 14,740 at open on Friday and then drop down to support, with the first support at 14,650 then 14,540

NQ Guideline For Thursday

NQ opened with a huge gap-up on Wednesday and quickly sold off as usual in the morning. Buyers came in but was not able to push it into higher high. NQ close in the middle of the day range, setting up for a high probability sideways trading action on Thursday.

Intraday support for NQ on Thursday will be at 14,750, with intraday resistance at 14,850, a 100 points trading range. NQ would have to clearly break out of the range and stay out of the range to cause a trending move. 

NQ Guideline For Wednesday

The current uptrend on the daily time-frame is still intact. On Tuesday the usual morning pullback down move to support was again bought, and NQ closed at the high of the day.

On Wednesday with the close at overbought zone on the intraday 5-minute chart, we could again see a pullback down move in the morning before buyers come back in again to push the market even higher.

NQ is now in parabolic up-move on the daily chart, and it should continue, as long as it can stay above its 20-DMA on the daily chart.

Key intraday support on Wednesday for NQ is at 14,720. As long a any pullback down move does not clearly break below 14,720 NQ should continue t rally to another higher high above Tuesday swing high.

NQ Guideline For Tuesday

NQ is currently in a sharp parabolic move up on the daily time-frame as short-sellers are forced to cover. The upside target is still at 17,000 or higher. However, as of the close on Friday NQ was in overbought zone on the daily chart.

Although Friday was a trending up day and in overbought on the daily chart it is still possible that NQ could trend up again on Tuesday, simply because it is in a fast parabolic up move. 

Key line-in-the-sand for NQ on Tuesday will be at 14,680, bullish and potential trending up day above 14,.680, and in a pullback sideways consolidation below it. First support is at 14,620

NQ Daily Chart - In a Sharp Rally Mode

NQ is now clearly above February swing high which is a key breakout price level. The shorts has started to cover, which has led to a sharp up-move since the middle of June, and should continue into the end of July to early August 2021.

On Friday NQ was in overbought zone on the daily time frame, now vulnerable to a quick one to two days sharp pullback down at any day now.

The trend is still clearly up, with the next upside target of 17,000, expecting a fast run-up in a parabolic pattern to end the bull market bubble, to be followed by a devastating reversal, a deflationary collapse, the bursting of the bubble.

Key price level to watch for during this current rally is the 20-day moving average.

The stock market is close on Monday for the 4th of July holiday