Sunday, October 22, 2023

NQ Guideline For Monday

A large down-trending day for NQ on Friday with a close at the low of the day. 

With the double bottom with July 27th low less than 100 points below Friday low there would be attempts by some large algos to break below the double-bottom low of 14,587 low to run over massive stop-losses congregating just below it.

If so, the next downside target is at 14,200 and the drop should be very fast.

Key price level to watch for o Monday will be at 14,660 as support and 14,800 as resistance. A break above 14,800 is bullish with the next higher resistance at 14,900-15,000