NQ Guideline For Wednesday

NQ has been swinging very wildly lately, with buyers, likely proxy for the Fed, pushing the market up at night when the volume is low, then sellers came in to sell during the day. Sellers seems to be the market insiders taking profit before the stock market crashes.

Key inflection price level for NQ on Wednesday will again be at 16,200,  with key support at 16,080 and resistance at 16,390

The market could continue to swing wildly depending on what the Fed is hinting about their future policies will be. Thus, be nimble and always willing to change trade directions at any time, based on price l;evels, supports and resistances

NQ Guideline For Tuesday

A huge opening gap-up and trend up day for NQ on Monday morning but NQ mostly traded sideways in the afternoon. On Tuesday NQ either continue to rally on Tuesday with or without pulling back down.

Key price level to watch for on Tuesday will be ay 16,370 support and 16,420 as resistance. Breaking out opf the 16,370-16420 trading range could trigger fast move oout and away from the range.

Lower support is at 16,300

NQ Guideline For Monday

The stock market tanked hard on Friday. Some traders used the excuse of the new Covid variant to trigger massive selling when there was hardly anyone around to trade because of the US Thanksgiving holidays.

The stock market tanked hard, and the crude oil futures market crashed even harder. If the sell-off is real, we should see the sell-off continues this coming week. However, if it was just a sell-off just to run-over stop losses of the bulls when there was no one around, then we should see a massive bounce his coming week.

Key inflection price level for trading NQ on Monday is at 16,100 with first key resistance at 15,225 then if that is broken, 16,300 is the next resistance for NQ.

NQ is bearish below 16,100, with the next lower support at 15,600-15,700 price zone.

NQ Guideline For Wednesday

After a brief rally to close the gap soon after the open on Tuesday NQ sold off again until it reached key support zone at the 20-day moving average on the daily chart.

The bounce was quite large, as NQ rallied back up to key resistance at 16,300. If NQ could rally and stay above 16,300 we could see a quick rally with the next resistance at 15,450.

Trading below 16,300 is bearish. Breaking below 20-dma on the daily chart, 15,150 could cause another round of liquidation selling,, lower support is between 15,600-15,700

NQ Guideline For Tuesday

NQ sold off very hard on Monday because Jerome Powell was reappointed as Fed Chairman instead of the super money printer MMT lady Lail Brainard. Powell is considered to be more hawkish than Brainard, thus the sell-off.

The sell-off could be very brief simply because the Fed is still doing massive QE on a monthly basis. The market melt-up should continue into March 2022 before the bear market commences.

On the intraday 5-minute time-frame, key price level to watch for are, 16,600 as key resistance, and 16,300 as key support level, a 300-points trading range

As many traders may be out of the office for the Thanksgiving holidays, we can expect unusual trading pattern where price swings may be exaggerated.

NQ Guideline For Monday

On Friday NQ opened with a gap-up, then after a brief rally, as expected on Friday,  NQ traded sideways all day.

On Monday, with s shortened trading week due to the Thanksgiving holidays, unless NQ can open and stay above key price level, 16,580, we could see sideways to down action for NQ in the morning.

Opening and trading above 16,580 could trigger another round of short-covering rally, with upside target of a break above Friday swing high.

NQ Guideline For Friday

It seems to be normal now for NQ to pullback down in an a-b-c wave pattern soon after the open then rally to another higher high, and Thursday was the same, pullback after the open then spent the rest of the day rallying to new high.

Keep in mind that Friday tends to be choppy as squaring on the books often cause a sideways market. However, with NQ closing above prior swing high on the daily chart, we could see rally on Friday if the shorts should panic and cover ahead of the weekend.

Key price level to watch for will be at 16,450, bullish above and bearish below it, with support at 16,390

NQ Guideline For Thursday

NQ traded sideways on Monday, rallied in the morning but was not able to hold its gain, setting up a bearish tone for the market on Thursday.

Key price level to watch for on Thursday will be at 16,320, bullish above it and bearish below it, with key support at 16,250 

If NQ should trade back above 16,320 we could see NQ trying to break above the high again.

NQ Guideline For Wednesday

A trending up day for NQ on Tuesday., with the open at the day low and the close at the day high. On Wednesday NQ either trend up again or consolidate sideways before it trend up again on Thursday.

Key inflection price level for NQ on Wednesday will be at 16,300, bullish above it and could trigger another trend up day if NQ can continue to push higher.

Trading below 16,300 is an indication NW is going into a sideways consolidation mode, with first support at 16,250.

NQ Guideline For Tuesday

A sideways consolidation day for NQ on Monday, setting up a trending day on Tuesday, either up or down depending on where it trades on Tuesday

Key line-in-the-sand for NQ on Tuesday will be at 16,150, bullish above and bearish below it.

NQ is likely to trend up if it can trade back above 16,220 and triggers short-covering, key support is 16,040

NQ Guideline For Monday

After consolidating all day on Thursday NQ finally broke out above its key intraday line-in-the-sand, the 200-ma on the 5-minute chart on Friday which triggered massive short-covering rally in the morning before trading sideways the rest of the day on Friday setting up the next trending up day on Monday.

To trend up, NQ would have to stay above 16,180 on Monday. Trading back below 16,180 is an indication NQ is going back down to key support, on Monday that support is at 16,080

NQ Guideline For Friday

After two large trending down days, NQ traded sideways on Thursday, consolidating the large sell-off days. 

On Friday, we could see either a resumption of the decline or another choppy sideways consolidation day before it trends again next week.

Key price level to watch for on Friday will be Wednesday swing high because trailing stop-loss for the shorts resides just above it, and also below Wednesday swing low because trailing stop-loss for the buyers sits just below Wednesday low.

Key support to watch for is still 15,700, previous swing high, was resistance now turned into key breakout support level.

NQ Guideline For Thursday

The stock market tanked hard on Wednesday from the high inflation rate as reported, due to fear that the Fed may be forced to speed up their tapering and or raise interest rates faster that planned. The CPI number was hugely unexpected, thus trigger some profit-taking selling.

On the daily chart, strong support is at the re-test or prior breakout price level, at 15,700, just 200 points below Wednesday swing high. Whether or not NQ will come down to test it before rocketing back up is difficult to predict. However, as long as NQ remains above 15,700, algos will continue to buy the dip. Breaking below 15,600 is very likely to trigger heavy selling.

Key price level to watch on Thursday is at 15,900. Trading above 15,900 is an indication NQ is in a consolidation mode with key resistance now at Wednesday swing high. For the shorts and stop-and-reverse trade congregates above 16,220. Trading below that level implies non-trending sideways consolidation.

NQ Guideline For Tuesday

NQ traded sideways on Frisday and on Monday, two pullback down day in a row.If the current uptrend does not need a larger pullback down move we should see NQ rallying up again on Tuesday. To do so it should trade back above 16,375.

Should NQ continue to trade below 13,375, it is an indication that NQ may be going into a larger/deeper pullback before rallying back up again.

Key line-in-the-sand for NQ on Tuesday will be at 16,375 

NQ Guideline For Friday

Another large rally day for NQ on Thursday. NQ is now about 700 points above prior swing high. Those shorts who has not covered are now in deep losing position. They could panic.

Friday is normally  a choppy sideways day, but on this Friday, anything is possible. If she shorts are forced to cover we could see another large up day for NQ on Friday. If enough longs takes profit we could see a down day for NQ on Friday.

Key intra-day price level to watch is the 50-ma on the 5-minute chart. Bullish above, and choppy below it.

NQ Guideline for Wednesday

On Tuesday NQ opened at key support and then rallied to higher high above prior day high before trading sideways above prior day high.

As long as NQ can stay above key support which on Wednesday, at 15,860, we could see another rally day as the shorts are forced to cover, and the Fed continues to buy the market.

Trading below 15,900 implies deeper pullback an potential consolidation.

NQ Guideline For Tuesday

After a huge rally on Friday NQ today spent all day consolidating the huge gain it made on Friday. If consolation has ended we should see NQ trend back up again on Tuesday.

Key support for that to happen is its 50-ma on the 5-minute chart, at the close on Monday, the 50-ma was at 15,840. 

If that level can hold after the open, we could see NQ trend up on Tuesday. Breaking back below 50-ma on the 5-minute chart implies more consolidation..