NQ Guideline For Wednesday

NQ trend on the daily chart remains down, as such rallies continued to get sold. NQ daily trend will stay down below 12,200.

12,000-12,050 price zone continues to provide support as NQ continue to trade sideways above it for the last six days in a row. With the bounce from such strong support so muted it is likely that support is going to break soon.

If so, the next support zone is between 11,620 to 11,750, and it is a strong support zone and is likely to cause a 3 to 4 days of bounce.

If on the other hand NQ sliced through it we could see very large 300-400 points consecutive down days as those buyers who bought 12,000-12,300 support zone gets run-over and exit their long positions.

The 5-minute intraday inflection price level for NQ on Wednesday will be at 12,050.

NQ Guideline For Tuesday

NQ opened with a huge gap-uo and then rallied to key resistance at 12,200 before dropping back down and trade sideways. all day.

12,200 will remain a key level for NQ on Tuesday, below 12,200 sellers will continue to come in to see resistance, 12,200.

However, if NQ could break above 12,266 area, we could see some short-covering that can cause NQ to rocket up to the next resistance zone, 12,400 - 12,500 area.

Key intra-day inflection price level is at 12,050, bullish above it and bearish below it.

NQ Guideline For Monday

On the daily chart, NQ trend is down below 12,200 and selling will the rally will be in play. The next  downside target is 11,800, and it is a very strong support level.

On the 5-minute intra-day time frame, key resistance for NQ on Monday will be at 12,050, bearish below it and bullish above it, with the next resistance at 12,400.

NQ Guideline For Friday

NQ traded sideways again on Thursday, still trading above key support zone between 12,000-12,100. As long a 12,000 support is not clearly violated we could see NQ rallying back up to 12,500, but 12,265 is a strong resistance from prior swing low.

On the 5-minute intraday time frame, key resistance is 12,265, and key support is 12,00-12,050. With Friday tendency to trade sideways, NQ may remain inside the range between 12,000 - 12,300 on Friday.

Key inflection price level is at 12,130.

NQ Guideline For Thursday

A sideways trading pattern for NQ on Wednesday with the low of the day dropping down towards strong support between 12,000 to 12,100..

It is likely NQ may bounce for 2 to 3 days from strong support. to confirmed the rally NQ would need to trade back above 12,200.

However, if NQ should drop down below 12,000 instead of bouncing, it will be an indication NQ is very bearish.

NQ Guideline For Wednesday

A large down day for NQ on Tuesday, a trend down day with the open below prior day low then after testing prior day low, trend down all day, and close at the low of the day.

On the daily chart we can see a very clear Elliot Wave pattern of a-b-c 1:1 pullback down from the high on February 2nd, with the low of the day on Tuesday also at the 200-day moving average, now acting as support. As such we could see a bounce from Tuesday low.

To bounce NQ would have to trade back above 12,150. Failure to do so could cause another large down day with the next support at 11,750.

NQ Guideline For Tuesday

The stock market was close on Monday following Friday';sideways type of day, and will reopen on Tuesday.

NQ has been trading in a trading between 12,200 support and 12,900 resistance for over two weeks and may be ready to breakout out of the range sometime soon, and when it does, we could see NQ going to the next trading zone.

If the break is to the downside, below 12,200 the next lower support level is at 11,500. If the break is to the upside, it has to clearly break above 12,900, the next resistance zone is 14,000.

Over the shorter term time period, on the daily chart of NQ the pattern is indicating a potential move down to 12,000 and then bounce back up to retest 12,900 resistance.

A clear and sustained break below 12,000 is an indication NQ is not retesting the high from February 02 swing high.

NQ Guideline For Friday

NQ opened with a huge gap-down on Thursday but because of the strong overall market bullishness, it has to bounce back up to test broken support which turned into resistance, 12,665.

When NQ failed to break and stay above 12,665 seller came in to sell and sold aggressively in the afternoon, dropping NQ back down to just above support, 12,450 area

On Friday key support will be at 12,450, bullish above it bearis below it with the next lower support at 12,200-12,300.

NQ Guideline For Thursday

A choppy up day for NQ on Wednesday. 

NQ broke out above prior day high in the afternoon and then after testing the breakout level, it rallied and close at the high of the day, creating a bullish close that should continue on Thursday.

NQ should continue to rally to a higher high above February 02 swing high and it could do it on Friday or next week.

Key intraday price level for NQ is at 12,665, bullish above it and bearish below it, with first lower support at 12,550..

NQ Guideline For Wednesday

NQ had a choppy sideways type of day on Tuesday. It may still want to go higher that February 2nd swing high but the choppiness of the current bounce from such an important support zone between 12,200 to 12,300 is not very convincing. As such, it is possible NQ may want to go back down to retest 12,200 support level.

Key intrday inflection price level for NQ on Wednesday will be at 12,550. Is is support at the close on Tuesday.

NQ Guideline For Tuesday

NQ rallied in the morning on Monday then spent the rest of the trade trading sideways in a consolidation pattern setting up the next rally leg up after the consolidation has ended.

To do so NQ wold have to stay above key intraday inflection price level, 12,530, on Tuesday. 

Breaking back below 12,530 is an indication NQ is either still in consolidation or that NQ is going back down to support, with key intraday support at 12,450 then 12,350

NQ Guideline For Monday

A down day for NQ on Friday. The low of the day was within a strong support zone between 12,200-12,300. It is a very strong support zone, as such could cause a one to two day bounce before breaking below it.

With so many algos buying between 12,200-12,300, if there is no bounce from support, and instead, it break down below it, we could see a quick decline down to the next support at 11,500.

On the intraday 5-minute time-frame, key inflection price level for NQ on Monday will be at 12,300, with key resistance at 12,370.

NQ Guideline For Friday

A large down day for NQ on Thursday with the low of the day approaching. key support zone between 12,300-12,300.

This is a very strong support zone where the current pullback decline should stop and then the rally resumes.

Should 12,200-12,300 support zone get clearly violated it would be very bearish, an indication the current counter-trend rally has ended, and that the downtrend has resumed. If so the decline could be very fast.

NQ Guideline For Thursday

On Wednesday NQ continued to trade inside the range between 12,50 support and 12,800 resistance, the range established by wild market price action on Tuesday.

On Thursday, NQ could either breakdown below support 12,500 and then continue lower to the next support at 12,300 or trade back up t retest the recent swing high 12,800.

Key price level for NQ on Thursday will be at 12,580 resistance, bullish above it, with the next resistannce at 12,800, and 12,500 support, bearish below it, with the next support at 12,300

NQ Guideline For Wednesday

It was a very choppy trading session for NQ on Tuesday but after two pullback down days NQ resumed it uptrend on Tuesday. 

NQ closed the day in a very bullish position with Tuesday key resistance now becoming key support, 12,600.

As long as 12,600 support is not violated on Wednesday the rally should continue to higher high above Tuesday's swing high, and above Friday swing high at 12,950

NQ Guideline For Tuesday

Monday was the second consecutive pullback down day for NQ after bumping up against strong resistance at 13,000. 

If current pullback is complete NQ should rally on Tuesday. Key price level to trade above is at 12,600, and NQ should trade above 12,600 and continue higher.

If NQ could not break and stay above 12,600 price level it is an indication that NQ may continue to trade sideways or trend down to lower support level, 12,300.

Key inflection price level for NQ on Tuesday will be at 12,600.

NQ Guideline For Friday

It took NQ just two day for NQ to reach near my upside target at 13,000 resistance and overbought price zone. NQ reversed down sharply in the afternoon on Thursday down to key support for Friday, 12,685 area.

For Friday, the release of the non-farm payroll report before the market open could change the market dynamic for Friday's trading. Key support is at 12,685, bullish above, bearish below.

There could be some profit-taking going into the weekend that could trigger a 2 to 3 pullback down days, with first pullback target at 12,500 then if that is violated the next lower target and strong support target is 12,150

NQ Guideline For Thursday

Now that the Fed decision on interest rate is out of the way and without surprising consensus expectation, the market can now resume its uptrend. For NQ the next upside target 13,000 before a pullback but it may take another 2 to 3 days to reach the target.

Key support for NQ for Thursday trading is now at 12,150, and as long as NQ does not break below it, the current uptrend should continue.