Monday, May 1, 2023

NQ Guideline For Tuesday

NQ traded sideways at resistance, still not able to break clear above 13,300 resistance. NQ may continue to trade sideways until the Fed announcement on Wednesday.

The pattern on the daily chart continued to look toppy and should trend down soon, The FOMC announcement on Wednesday could be the trigger for NQ to starts trending again.

On the intraday timeframe, I am not expecting too much movement away from current balance zone from 13,300 key price level.