NQ traded sideways on Monday as it remained stuck inside a balance zone between 11,000 support and 11,700 resistance. NQ would need a sustained break out of the zone to cause a large trending move away from the balance zone.
On the intraday basis, key price level for NQ on Tuesday will be at 11,420 support and 11,500 resistance.
On Friday NQ opened at support and then rally all day into the close. The high of the day was still below resistance 11,750, as such it is possible for NQ to either rally up to resistance right away before pulling back down to support, or NQ could first pullback down to support before rallying back up to resistance.
Key inflection price level for NQ on Monday will be at 11,570, bullish above bearish below it.
Next higher resistance is at 11,750, next lower support is at 11,400
On Thursday, NQ opened and immediately sold off very hard in the morning. Dip buyers came back in to buy but sellers continue to overwhelmed the buyers all day with the close near the low of the day, a down day for NQ on Thursday.
Bad earning reports from Amazon tanked NQ hard after the market. If NQ is not able to trade back and stay above 11,220 on Friday we could see heavy selling as investor exit their long before the end of the week.
Key inflection price level for NQ on Friday will be at 11,220, key support is 11,000.If 11,000 does not hold on Friday we could see heavy selling.
On Wednesday NQ opened with a gap-down to support and into oversold zone on the intraday 5-minute time-frame.
NQ then rallied to retest the high before sellers tanked it back down to retest .the morning low, a sideways consolidation typ[e of day, setting up the next rally day or a down day if the counter-trend rally has ended.
Key price level for NQ on Thursday will be at 11,575, bullish above it and bearish below it. Resistance is at 11,750 and support at 11,400 and 11,300
Short-covering rally continued on Tuesday with NQ day high at double-top resistance with October 6th swing high, with the close near the high of the day, a bullish close.
However, after the close NQ has sold off hard due to poor earning, setting up potential sell-off on Wednesday.
With trailing stop-losses just below 11,000, NQ would need to break below 11,000 and stay below 11,000 to trigger sell-off. As long as 11,000 is not violated, we should see NQ trading sidfeways or rally.
Key intraday support is at 11,525.
On Monday, after dropping down to support, NQ rallied all day into the close, closing near the high of the day.
However, intraday, NQ may need to pullback down to support to relieve the overbought condition before rallying back up again.
We should see at least two more days of short-covering rally, with the ultimate upside target at 12,000-12,150, before it ends.
Supports for NQ on Tuesday will be at 11,375 and also at 11,215.
Resistance is at 11,525
On Friday NQ opened with a gap-down and then dropping down to key support 11,000 before bouncing off it and rally all day closing near the high of the day. The high of the day was just below key resistance at 11,400, which will be the ket line-in-the-sand for NQ on Monday.
Key resistance for eNQ on Monday will be at 11,400 and key support at 11,250. Trading above 11,400 could cause more buying activities with the next resistance at 11,670
Trading below 11,250 could rigger selling, with first support at 11,150.
It seems that morning rally and gap-up open tends to get sold, an indication that liquidity is continuing ato shrink at ra very rapid pace. Every extreme oversold bounce tend to be short-lived.
Key support for NQ on Friday is again at 11,000.As long as NQ remains above 11,000 we should continue to see either a rally or sideways price pattern. A sustained break below 11,000 could cause sharp-selling as trailing stop-losses for those still holding longs gets triggered.
As of Thursday close, key support is 11,000, with first resistance at 11,160 and then second resistance is at 11,300
NQ traded sideways on Wednesday, the second day in a row, setting up high probability trending day on Thursday, the direction will depends on where it opens and trade in relation to key price level.
Key inflection price level for NQ on Thursday will be at 11,160, bullish above, with first resistance at 12,275, and bearish below it with first support at 11,000.
Breaking above resistance could cause a trend-up day, if it can break and stay above it.
Breaking below key support could cause a trending down day, if it can break and stay below it.
Overnight NQ has traded down to 11,000 support. If NQ should open and stay below 11,000 on Thursday, we could really see sharp selling as traders exit their bullish position.
NQ opened with a huge gap-up on Tuesday. As usual, gap-up tends to get sold as large traders download their bullish position before the market collapse.
For Tuesday we could also see NQ opens with a gap-up that is likely to be used by large fund to sell their long positions.
Key resistance for NQ on Wednesday will be at 11,400, bullish above it with the next resistance at 11,525, then 11,670.and bearish below it. with key support is at 11,150.
On Monday NQ opened with a huge gap-up, and it stayed up all day, setting up another short-covering up day on Tuesday.
Key line-in-the-sand for NQ on Tuesday will be at 11,150, bullish above it with the next resistance at 11,250 then 11,500.
Key support is 11,000.
A reversal down day for NQ on Friday after just one sharp short-covering day from extreme oversold condition, an indication of a very heavy selling market condition.
Key intraday line-in-the-sand for NQ on Monday will be at 10,725 zone, bullish above with first resistance at 11,000, and bearish below it.
A sharp profit-taking rally for NQ on Thursday. With the market so deep in oversold when the rally started on Thursday we could see a pullback rally that could last three to four days or seven to ten day, we shall see.
For Friday, key inflection price level will be at 11,150, resistance as of Thursday close but if NQ could trade above 11,150 and then stay above it we could see more profit-taking short-covering rally, with the next resistance at 11,250 then 11,500.
Key support is 11,000.
Another down day for NQ on Wednesday, traded sideways but it was a down day. The pattern looks like it may want to rally. However to rally, NQ would need to break-back above 11,000 and then stay above it to trigger some profit-taking activities that can cause a rally..
Staying below 11,000 is very bearish and could tank again to the next lower support level, wherever that may be. A strong support level is not until 9,500, previous swing high February 2020.
The bear market continued on Tuesday with NQ continuing to make a lower low. NQ continued to remain in oversold condition.
Key intraday line-in-the-sand for NQ on Wednesday will be at 10,980, bullish above it nd bearish below it.
The bear market continues with NQ making another lower low. The decline is starting to slow down simply because the market is in a very oversold condition on the daily timeframe.
As such the market may either get a sharp and quick quick counter trend bounce or crash as buyers gave up their longs and bail by selling their position to get out of bad trades.
Key intraday inflection price level for NQ on Tuesday will be at 11,000, bullish above, first resistance is at 11,150, and bearish below it.
A huge down day for NQ on Friday as the bear market resumes. With NQ now in very oversold, a continued decline has the potential to cause a crash as many of those oversold buyers get liquidated.
Key intraday line-in-the-sand for NQ on Monday will be at 11,150, bullish above it with the first resistance at 11,350-11,400, and bearish below it.
It was day for of the counter-trend bounce, and it was a narrow range choppy sideways type of day. It is either a pause before the next short-covering day, or a topping day before the downtrend resumes.
Key intraday line-in-the-sand for NQ on Friday will be at 11,580, bullish above and bearish below it.
First support for NQ is at 11,525 and if NQ should trade below it, the next support layer is at 11,350-11,400.
Resistance is now at 11,760-11,780.
Another short-covering rally day for NQ on Tuesday, the second rally day since NQ false-break below the double bottom low. NQ should get one more rally day with the next resistance at 11,750 -11,800.
Key intraday inflection price level for NQ on Wednesday will be at 11,620, bullish above with the next resistance at 11,770-11,800 and bearish below with first support at 11,350-11,400.
A big rally day for NQ on Monday after breaking below June swing low on Friday. NQ failure to get two consecutive close below prior swing low is an indication that counter-trend buyers is going to be aggressive and could trigger a two to three short-covering rally days.
Key intraday support for NQ on Tuesday will be at 11,230, bullish above it and bearish below it.
