A sideways consolidation pattern for NQ on Thursday. On both the 60-minute chart and the daily chart, NQ is showing a likely choppy non-trending sideways day on Friday with support at 20,700 and resistance at 20,900.
Lower support is 20,500 and higher resistance is at 21,000.
As long as NQ remains inside the 20,500-21,000 trading range NQ should continue to trade sideways.
Another sideways consolidation pattern for NQ on with sharp mporning drop down to retest strong support at 20,500
NQ is going to continue to trade sideways between 20,500 support and 21,000 resistance. NQ would need to break ouit of the zone between 20,500 support and 21,000 resistance to cause a trending move.
On the 60-minute chart, NQ seems to be stuck inside the 20,500-21,000 trading range. As such it is likely to continue to trade sideways.
On Tuesday NQ opened lower and traded down to 20,500 support before rallying all day into the close. Upside target remains at 20,900 which it could reach in the morning.
20,900 is key resistance, as such we could see NQ dropping back down to 20,700 after rallying up to it unless it can clearly break above 21,000.
The technical pattern on the 60-minute chart is indicating a sideways market on Wednesday trading between 20,700 support and 20,900 resistance.
A sideways consolidation day for NQ on Monday. The technical pattern on the 5-minute chart and the 60-minute chart is bullish, which target the next resistance at 20,900.
In order to trigger a rally NQ would need to break above key inflection price level at 20,680 and then push higher. It needs to break above Monday high to trigger short-covering. If so NQ should rocket up to 20,900 before dropping back down to support, 20,700
Key indicator to watch is the USD index, Any sharp rally in USD is going to be bearish for the stock market and may stall any rally attempt.
After trading sideways for four consecutive days above breakout price level, 20,900, after breaking above it, NQ closed down below the low of the breakout day, triggering exit & reverse short for the buyers which then caused a huge gap-down on Friday, which led to a trend-down day on Friday.
Monday could be a consoli9dation day with key support at Friday low. As long as NQ remains above Friday swing low we should see sideways action with key intraday inflection price level at 20, 500, bullish above it with first resistace at 20,685, then 220,900.
Bearish below Friday low, with next major support zone between 19,900-20,000.
Thursday was a down day for NQ. The selling is continuing into the overnight trading session. It has broken below key support 20,900.
If NQ should open below 20,900 we could see NQ quickly dropping down to the next support zone at 19,685-20,700. That is a strong support and NQ is likely to bounce off it and trade sideways
If 20,685-20,700 support zone is violated and NQ clearly break below it, we could see a fast decline.
Another sideways narrow-range consolidation pattern for NQ on Wednesday, four consecutive days. NQ would need to breakout above 21,350 and push higher to trigger a trend-up day.
A big gap-up open above 21,350 would increase the probability of a short-covering trending up day that lst all day long..
If NQ required a deeper pullbsck before trending back up again, supports are 20,900-21,000 and if that does not hold the next lower suppoert is at 20,700,
Upside target for a trend-up day will be at 21,700-21,750 are.
Another narrow-range sideways consolidation day for NQ on Tuesday, the third consecutive consolidation day in a row.
If NQ does not need a deeper pullback before resuming the rally we should se NQ trending up all day on Wednesday.
If NQ required deeper pullback the next lower support is at 21,000
Key price level to watch for will be at 21,200, bullish above, bearish below. Trading above 21,200 is an indication the next ley up is in progress. If so, the next logical upside target is at 21,500 to 21,600.
With the bond market closed for the Veteran;s day on Monday the market chopped around in a very narrow range.
Tuesday will be different as everyone will be back to trade the mrket. As such we could see the uptrend resume the current rally.
With Bitcoin in breakout parabolic mode on its way to 120,000, he market will be flushed with risk capital. as such may push the equity market higher on Tuesday.
Key intraday price level will be at 21,200, bullish above it, bearish below it.
The stock market took a pause on Friday trading sideways in a very narrow range pattern for NQ, which is a setup for a big rally on Monday, with reasonable upside target at 21,500 to 21,600.
Key price level for NQ to trade above in order to trigger short-covering rally is 21,250, bullish above, bearish below it.
The bond market is close for Veteran's day celebration but the stock market is open.
Another rally day for NQ on Thursday, the third consecutive rally day. Friday will be day 4 which is an indication that NQ may rally in the morning but then reverse in the afternoon, making Friday a sideways day.
However, the fact that nerxt week Monday November 11, will be veterans day, we could also see another up-trending day on Friday if the shorts panic cover again.
Key price level to watch is 21,250, bullish above, potential sideways action below it.
A large gap-up and trend up day for NQ on Wednesday following Trump victory. NQ and S&P 500 is now in breakout mode and may force the shorts to cover. If so we can expect to see 3 to 4 large up day in a row above breakout before we see a pullback day.
For NQ the breakout level is the high from July at 20,920. A sustained break above could trigger a 1,000-2000 point rally before pausing
Key price level for NQ on Thursday will be at 20,920.
The Fed is expect to cut interest rate by 0.25% on Thursday
Massive rally in equity in overnight trading session as Trump is going to win the US Presidential election. The rally should continue for the next three day as the shorts needs to cover.
For NQ key resistance top qatch is 20,700 then 20,900. A sustained break could cause a massive spike. A good upside target is at 23,200, that is if NQ can break abd stay above 20,900.
A break above 20,900 that does not hold is very bearish. But Trump win is very bullish for the stock market.
A sideways trading action for NQ on Monday. With Tuesday being an election day in the US we could see another sideways action with key support at 20,000 and key resistance at 20,200.
NQ would need to break out of the range to trigger s temporary spike away from the 20,000-20,200 range.
Major investors may want to wait for the election result to make their decision. As such we could see a big market move out of the range after Tuesday election.
Friday was a sideways consolidation day following a huge down day on Thursday. The sideways pattern on the intraday 5-minute chart is showing a setup for a rally on Monday.
Key price level to trigger a rally will be at 20,200, bullish above it with a normal upside target at 20,400. A more bullish upside target at 20,5400.
A expected NQ opened below key support 20,500 on Thursday and then tanked down hard breaking below 20,200 down to the next support at 20,000. A stronger support is at 19,900.
It is likely NQ is going to trade sideways on Friday between 19,900-20,000 support and 20,200 resistance. Should NQ break above 20.200 it may go all the way to 20,350
A break below 19,900 is very bearish.
NQ traded sideways again on Wednesday with the closing price sitting at just below support, 20,520. It has continued its decline after hours, currently trading at 20,370.
If it should open below 20,520 we could see heavy selling which could take NQ back down to the next support level at 20,200, or lower to 19,900-20,000 suport zone
A big rally day for NQ on Tuesday. The rally could continue if it can break abovethe next resistance at 20,800. If so the next upside target is at 21,000 if it can break above double-top resistance at 20,920.
Failure to trade above 20,800 could cause NQ to pullback down to 20,520 support.
A narrow-range sideways consolidation type of day on Monday setting up a bigger move on Tuesday, the direction depends on where it trades in relation to is inflection price level. For Tuesday 20,500 will be key price level.
Above 20,500 we could see NQ rallying up to 20,800. Below 20,500 we could see NQ dropping down to 20,200 support.
A sideways trading pattern for NQ on Friday. A sharp rally in the morning that was followed by a sharp decline in the afternoon.
The stock market is stru7ggling to rally, an indication buyers may be exhausted and selling is starting to be more intense due to the sharp rally in the USD which is bearish for the market.
Yje is no setup for a strong sustained rally until NQ can clearly break above 20,700. A sustained break can trigger short-covering rally that could break above double-top resistance at 20,938 area,
There is no sharp sell-off until NQ breaks below 19,900.
A narrow choppy sideways trading pattern for NQ on Thursday. The pattern is going to continue on Friday.
At the end of the day on Thursday NQ looks ready to rally back up to the next resistance 20,520, then trade sideways, likely going back down to support 20,360.
A sharp selloff for the market on Wednesday, with NQ selling off most of the day but reversed late in the afternoon. The rally continued in overnight trading, back into its choppy zone again.
NQ is likely to continue to rally back up to 20,500 resistance zone then trade sideways below it, with support at 20,200.
Another narrow range sideways day on Tuesday. The pattern may continue on Wednesday with key price inflection level at 20,523, bullish above it, with possible upside target at 20,680 double top, or 20,800 if it can break above double-top resistance.
Bearish below it, with the next support at 20,350 and 20,200.
Another sideways trading action for NQ on Monday. NQ rally soon after the open failed and was sold off very quickly before buyer came in to buy and help pushed NQ back up to close at key resistance, now at 20,525.
20,525 will be key price ;level to watch on Tuesday, bullish above bearish below and an indication it is going back down to test support at 20,20.
A very narrow range day for NQ on Friday, a second consecutive narrow range days, setting up a big move out of the range. At the end of the day NQ looks ready to move out of the range.
Key price level for NQ on Monday will be at 20,500, serves as key resistance. A sustained break above is likely to trigger a big rally.
Failure to break above 20,500 could attract selling that could quickly tank NQ down to key support at 20,200
On Thursday NQ opened with a gap-up above 20,500 key resistance price but quickly dropped down below it and trade sideways below 20,500, resistance.
On Friday, key inflection price level will be at 20,370, bullish above it with first resistance at 20,500, and bearish below it with first support at 20,200.
Friday tends to be choppy and sideways trading pattern.
A sideways consolidation day for NQ on Wednesday. The low of the day was at key support level, 20,200.
On Thursday we could see another downtrend if it breaks below 20,200 support , or s big up-day if it can break above 20,400.
The strength of the US$ is a big factor in determining the bearishness or the bullishness of the market. With the US$ in a massive rally mode, it is affecting buy-Sell algos decision, a big US$ spikes can cause a sharp stock market sell-off, just like what happened on Tuesday.
A trend-down day for NQ on Tuesday. A sharp decline in the morning and a sideways consolidation the rest of the day. By the end of the day NQ looks ready to rally back up. A such we could see NQ rally in the morning then trade sideways.
Key price level to watch on Wednesday will be at 20,375, bullish above it, with resistance at broken-support now resistance, 20,500.
Nq will be bearish below 20,375, with key support at 20,200. A break below 20,200 is an indication NQ want to go to the next support level, 19.900
NQ opened with a gap-up above resistance, but failed to trend up, instead it traded sideways above broken resistance, now acting as support. The reason for its failure to trend up is likely due to the strengthening US dollar.
On Tuesday NQ is likely to come back down to re-test broken resistance now support at 20,500 before rallying back up again to higher high,l and that is as long as 20,500 support is not violated.
A likely pattern for NQ on Tuesday is 1). down in the morning to 20,500 2). then rally to higher high above Monday's swing high.
Key support is 20,500.
On Friday NQ rally stopped just below key resistance 20,500, which will remains as key resistance for trading NQ on Monday.
If NQ is not able to breakout above 20,500 on Monday we could see selling that could take NQ back down to support at 20,200.
A sideways trading action for NQ on Thursday following a trending up day on Wednesday. As long as NQ remains below 20,500 resistance level NQ is going to remains in a sideways trading pattern..
Key intraday support for NQ on Friday will be at 20,400. A break below it is an indication it is going to retest trading range support at 20,200.
A break above 20,500 could trigger a short-covering rally with the next upside target at 20,800-20,900. However, with Fridays tendency to be a choppy yype of day NQ may have to wait until next week yo trend above 20,500
A slow rally day for NQ on Wednesday withe the high of the day bumping into resistance at 20,500.
If NQ is not able to break above 20,500 20 Thursday we could see NQ pulling back down to re-test previous resistance, now support at 20,200, or simply trade between 20,200 support and 20,500 resistance.
If NQ can break and stay above 20,500 it could quickly rally to 20,800-20,900 at double-top resistance.
It was an up-trending day for NQ on Tuesday with the close near the high of the day.
Bullish on all time-frames, weekly, daily and the 60-minute time frame. At the end of the day on Tuesday NQ looks ready to trend up again on Wednesday with or without early morning pullback. Key price level support is at 20,200.
As long as NQ can stay above 20,200 we can see another bullish day on Wednesday. Trading below 20,200 is bearish, an indication it may want t go back down to 19,900 support.
What could prevent further rally? A massive US$ rally could cause market sell-off.
Another sideways price action for NQ on Monday as it remains inside a balance trading zone between 19,900 support and 20,200 resistance.
With Monday as the 7th day inside the range, it may now be ready to breakout of the range.
Key support for NQ is 19,900, a break below it is likely to trigger heavy selling with the next support at 19,400, thats a 400-points drop below skey support.
A break above 20,200 resistance could cause massive short-covering rally, with the next upaside target at 20,600.
Remaining inside the range implies more sideways choppy price action
A sideways trading action for NQ on Friday with the closing price at key resistance level, 20,220, setting up a potential trending up day if NQ could trade and stay above 20,220.
Failure to trade above 20,220 is likely to drop NQ back down to key support, 19,900.
Another choppy sideways day for NQ on Thursday. Friday price action should be the same choppy and saideways as long as NQ remains inside a balanced trading range between 19,900 support and 20,200 resistance.
It needs a market-moving news to get NQ to break out of the range.
On the intraday basis, NQ looks like it would need to go up to 20,200 in the morning before going back down to support, 19,900.
A choppy narrow-range consolidation day for NQ on Wednesday. Thursday trading is also likely to be a choppy sideways trading day, with support at 19,900 and resistance at 20,200.
NQ would need to trade outside the 19,900-20,200 trading range to cuse a breakout trending day.
Key intraday inflection price is at 20,040, bullish above it, bearish below it.
A large down day for NQ on Tuesday. The sell-off should continue on Wednesday with the next support at 19,700 and likely to go down to at least 19,370 if 19,700 support is broken.
The port worker union strike that started on Tuesday is very bearish for the economy and if not resolved could cause a massive stock market crash as it would crashes trhe US economy and drag globall economy down.
Should the strike be settled soon we could see a massive knee jerk reaction rally.in the stock market.
A choppy sideways trading action for NQ on Monday.
The current setup is for another sideways trading action on Tuesday with key inflection price zone at 20,200.
Support is 20,000 and resistance is 20,400
A narrow-range choppy pullback down-day for NQ on Friday, with the low of the day down to key support level, 20,200.
20,200 is key support for NQ on Monday. Staying above it implies NQ is going to rally back up to the high, 20,500, but trading below it could cause a sharp drop to the next lower support, 19,900.
A large gap-up open for NQ on Thursday but it tanked to support, instead of trending up.
On Friday NQ is likely to stay inside the Thursday trading range between 20,500 resistance and 20,200 support.
Another very narrow-range choppy consolidation pattern for NQ on Wednesday. Overnight NQ has rallied over 200-points from the close.
If the rally can stay at current level into the regular session trading hours we could see a large gap-up open that is then followed by a trend up. If so w3e could see a huge rally on Thursday.
A normal target for the rally would be around 20,900, double-top July swing high.
Trading back below 20,200 is bearish.
Another sideways consolidation day for NQ on Tuesday. At the end of the day the pattern is indicating imminent breakout and trending up day on Wednesday. However, the market has been shopwing bearish signal in overnight trading.
Key level for NQ to break on Wednesday is at 20,200 resistance. A sustained break should cause a trend-up day. Failure to break isd bearish.
With Wednesday as the 4th consolidation day NQ would need to trend up. Failure to breakout is an indication NQ would need to pullback to lower level before trending back up again, that is if key lower support, 19,900 holds.
A very narrow-range choppy consolidation day for NQ on Monday, the second consecutive day in a row following a large up-trending day on Thursday last week.
The is a good possibility on Tuesday, being a third consolidation day that NQ may trend up. To do so NQ should trade above Thursday swing high, and pushes higher, with the next upside target at 20,500-20,600
There is also a good possibility that NQ may still need to drop lower to re-test support at 19,900 before trending up again.
A narrow-range sideways consolidation day for NQ on Friday. Monday trading pattern will depends on whether or not consolidation has ended.
If consolidation has ended NQ would then trade above Thursday swing high and trend higher. If so the next normal upside target is 20,600 area.
If consolidation is still in progress NQ should stay below Thursday swing high, below 20,200.
Intraday inflection price for NQ on Monday will be at 20,000, bullish above, bearish below it, with ky support at 19,900.
War in the middle east may keep the market from trending up on Monday.
A large opening gap-up and trend up for NQ on Thursday morning the continue into early afternoon and early afternoon before reaching its upside target and then pullback down.
It looks like the pullback down is not complete with its downside target at around 19,900 support, which may be a strong support for NQ on Friday. If so we can see NQ trading range-bound with 19,900 support and 20,150 as resistance.
A sustained break above Thursday swing his is an indication short-covering is still in progress, If so we can see another trending up day on Friday.
Bearish on a break below 19,900
A very choppy sideways market action on Wednesday as market participants were fairy balance between the bulls and the bears.
Technical pattern is showing bullish configuration. Overnight NQ has rallied over 300 points. If the rally can stay up as the market opens on Thursday we can see massive opening gap-up and has the potential to trigger massive short-covering rally.
If so, we can see NQ rallying 600 to 700 points from the close on Wednesday, upside target to over 20,000 on the September contract.
Key support is 19,650, bullish above, bearish below it.
Another narrow-range choppy price action ahead of the FOMC decision announcement on Wednesday.
On The daily chart of NQ the pattern is showing a potential large trending move out of the current price zone, NQ could go 2,000-3,000 either way without much pullbacks.
As such NQ upside move target is a break above 21,000, with final target at 24,000.
The downside target will be below August low, to 16,000.
The current technical pattern for NQ is very bullish, we have an inverse head & Shoulder pattern. A trigger will be a break above the August 22nd swing high, , 20,100. A dovish Fed announcement on Wednesday would support a bullish breakout.
Key inflection price zone for NQ is around 19,400, bullish above, bearish below it.
A narrow-range choppy day for the market on Monday as traders and investors wait for the FOMC announcement on Wednesday.
Tuesday could be the same choppy and narrow-range, as long as there is no unexpected market moving news.
For NQ, key support is at 19,280 and key resistance at 465 on the September contract.
There is a 230 points different between December and September contract price, with December contract higher.
Friday was a very choppy narrow-range day for NQ. With the FOMC meeting this coming week we could see more choppy action until the FOMC announcement on Wednesday.
Key support for NQ going into the FOMC announcement is at 19,400 bullish above it, and bearish below it.
Key resistance is ay 19,750, A sustained break above it can cause a large-range trending up move. If so the next upside target is at 20,100-20,400.
A narrow-range up-trending day for NQ on Thursday. On Friday anything is possible, depending on where it trades in relation to its ley inflecyion price level, 19.375.
NQ would remains bullish above 19,375, with the next resistance at 19,750. Bearish below it with key support at 19,100.
After a sharp morning decline NQ rally sharply all day into the close, with the high of the day just below strong resistance zone, 19,290-19,350.
NQ may have to consolidate before breaking hrough the above resistance zone, the consolidation support will be at 18,850. This support zone has to hold to stay on the bullish side.
Thus, the key price level for NQ on Thursday will be at 19,290-19,350, bullish above, bearish below.
The wild price swings is going to continue until after the next FOMC policy decision announceme next week.
Another rally day for NQ on Tuesday, the second consolidation day following a a large sell-off day last Friday.
Wednesday will be a key day, with NQ failure to break above key resistance level, previous low from September 4th and 5th, we could see aggressive selling around 18,850 price zone.
As such, 18,850 will be key inflection price level for NQ on Wednesday, bullish above it with the next resistance at 19,300, bearish below it with the next downside target at 18,000-18,300.
A sideways consolidation pattern for NQ on Monday following a huge trending-down day last week Friday. At the end of the day NQ close just slightly above key intraday inflection price zone, 18656 for trading on Tuesday.
For Tuesday, if consolidation has ended, we could see a huge rally, if NQ could trade above Monday swing high, and trigger short-covering. If so the first resistance ia at 18,840 then 19,300
Or NQ could tank again if it can trade below Friday low. If so the next support is at 17,945, but the downside target which may take another 2 to 3 days to get yo , is at 16,490
A huge sell-off for the stock market last week, with NQ Friday low was just above its 200-day moving average on the daily chart. As such there may be a bounce for one or 2 days before it tank again, breaking below its 200-dma.
A break below 200-dma target 16,500, a 1:1 target from the high.. If NQ should rally back above its 50-DMA on the daily chart, we should see NQ breaking above the July swing high.
On the intraday timeframe, key inflection price level for NQ on Monday will be at 18,540, bullish above with first resistance at 18,615, then 18,800.
NQ has been in a pullback-down mode for the last 8 days, dropping down to key 20-DMA on the daily chart. It seens ready to trend back up again.
Key breakout resistance level to break in order to trigger short-covering a buying algos is at 19,600 for NQ.
A sustained break above could trigger 300-400 points up-move in a day (trending day). If so, the next upside target is at 20,000. Strong resistance that can cause a brief pullback. is at 20,370.
Failure to break above 19,600 is an indication NQ pullback is not over, that it is going into a wave-c pullback down to 18,870.
A sideways trading pattern for NQ on Thursday. Ahead of the long labour day weekend when most major fund managers are out of the office we could see another sideways trading pattern on Friday.
19,530 as resistance and 19,200 as support.. We could see NQ staying inside the range, but anything is possible as most traders are out of the office.
A large down day for NQ on Wednesday. The sell-off continued after-hours following NVDA earning reports.
NQ has dropped down to key support after NVDA earning reports. It has recovered some of the sell-off. As long as 19,150 is not violated on Thursday we should see a bounce, with first resistance at 19,700
A clear break below 19,150 is bearish, an indication NQ is going lower with the next support at 18,900
Another choppy day for NQ on Tuesday, the fourth day in a row, but with a bullish close.
Whether or not it is ready to start trending up again on Wednesday we just have to wait and see. Ahead of the long weekend with most investors out of the office anything is possible.
Key intraday inflection price level is at 19,645, bullish above and bearish below it
A down day for NQ on Monday, the 3rd pullback day since the last high. So far, a very shallow pullback because the normal daily pullback target will take NQ down to around 19,100 or so.
However, given the strength of the current bounce, it may be sufficient for NQ to start trending back up again. On the daily chart, NQ still look like it wants to drop lower.
Key intraday inflection price level for NQ on Tuesday will be at 19,625, bullish above it, bearish below it.
NVDA earning coming up could cause a big move in the market. It may do so before the erarning announcement
A sideways consolidation pattern on Friday following a down day on Thursday. Now that the Fed has announced their intention to start cutting short-term interest rate at the Jackson Hole meeting, the market could starts to trend again.
Technical pattern on the daily chart is showing a potential further pullback down if it can break below strong support zone at 19,675 with potential support at 19,277-19,377, with strong support at 19,100
However, if one pullback day is sufficient to relieve the overbought condition we should see NQ breaking to the upside above key resistance at 19,781. If so, it can rocket up to above Thursday swing high at 20,024. to the next resistance at 20,371
The stock market finally sold-off on Thursday on profit-taking activities ahead of the Jackson Hole speech this weekend by FED Chairman Jerome Powell.
Anything can happen on Friday depending on what the Fed Chairman would say. However, following a trend down day on Thursday wqe could see a sideways consolidation day on Friday.
On the intraday basis, key inflection price level for NQ would be at 19,700, bullish above it, bearish below it. Strong support for NQ is 19,000.
A sideways consolidation pattern for NQ on Wednesday as it bump into overhead resistance at 19,900.
NQ looks ready to go into a pullback down move that could last 2 to 3 days after which it could blast upward with enough momentum to break through resistance.
Key intraday inflection price for NQ on Thursday will be at 19,865, bullish above it, bearish below it with key support at 19,830
A sideways consolidation day for NQ on Tuesday following a trending-up day on Monday. It seems that all we have been getting is a one-day consolidation in between trending day during the current uptrend, perhaps because so many went short after the sharp sell-off.
NQ is still below some resistance, the final resistance, 19,940, if clearly broken could rocket NQ up sharply, with the next resistance at 20,370.
On the intraday time-frame, key support for NQ on Wednesday is 19,740, with key inflection price level at 19,820, bullish above it, bearish below it.
With Iran not expect to strike Israel, we could see massive relief rally ahead, especially if there is a 2 to 3 days pullback before resuming the uptrend.
An uptrending day for NQ on Monday following just one day of consolidation on Friday. NQ is still bumping into resistance at 19,950.
If NQ can break above it we could see NQ breaking out to the upside and breaking above the last swing high from July 11th swing high before a large pullback.
The only risk that cannot be factored-in to the price chart is the escalation of war between Iran and Israel that could cause a spike in oil prices. Then all bets are off, and the market can cascade back down again.
On the intraday basis, key price inflection for NQ on Tuesday will be at 19,750, bullish above it, bearish below it
A large gap-up opening and trend-up day for NQ on Thursday, with the day high just below strong resistance zone 19,700-19,900 prior swing low on the daily chart, now acting as resistance. It is also the 50-day moving average.
As such NQ may has to pullback down for a couple of days before breaking through the resistance zone to re-test the previous swing high, 20,950.
The zone between 19,700-19,900 is also where NQ would typically drop back down to re-test the recent low, 17,975. As such, the zone is key inflection price level, where NQ could move over 1,000 points upward or downward.
On the intraday basis, we could expect a sideways consolidation pattern on Friday, with inflection price level at 19,565, bullish above, bearish below it.
A sideways consolidation trading pattern for NQ on Wednesday following a trending-up day on Tuesday as such we could expected the market to trend-up again on Thursday, or it may consolidate for another one or two more days before trending up again.
Overnight the equity market are slightly bullish. Key level to watch for on Thursday will be at 19,070-19,189, bullish above bearish below it.
Key support is 18,900.. As long as NQ remains above 18,900, the next upside target remains at 19,700 prior low now resistance
A gap-up and trend-up day for NQ on Tuesday. Normally, a trend day is followed by a Pivot Day, where it would trade sideways in a consolidation pattern above the FT Pivot, which doe NQ on Wednesday will be at 19,018.
However, with so many are still short the market there is still a possibility that NQ could trend up again on Wednesday.
Key inflection price level for Wednesday is at 19,065, with key support at 19,018, and the next resistance at 19,185, then 19,377
Tuesday will be day 7 of the current consolidation pri9ce action following a huge sell-off. Very often day 7 and day 8 is when the market resumes its main trend, which is down at the current time.
Because the sell-ff was so severe we could see Tuesday as day 7 to continue to rally.
Key price level to watch for a breakout is at 18,565 as key support and 18,890 as key resistance. A breakout of support-resistance zone is going to trigger a strong trending move out of the range.
Staying inside the range implies more sideways choppy price action.
On the 5-minute intraday chart, key inflection price level is at 18,612, bullish above, bearish below
Friday was very choppy narrow range sidewayas trading action as NQ pushes up against strong overhear resistance. As such, Mondays trend direction will depend on where it trades in relation to its key inflection pricxe level
For Monday that inflection price level will be at 18,485, bullish above it, resistances are 18,700-18,900and bearish below it.
With most trailing stoploss below Friday low, 18,411, a sustained break below could trigger massive selling.
So far tonight, Sunday night, thye stock market are trading fglat while bitcoing is down a lot, an indication Monday could be a bearish day.
It was an up-trending day for NQ on Thursday. However, it is now bumping into numerous resistance levels where many algorithms would be selling.
18,600 is the 50% retracement level from the last pullback-high on August 1st to the low on August 5th. Many algos would be selling. It is also the 50-MA on the 60-minute chart.
Then 18,850 is the .618 fibonacci retracement and prior consolidation low, and overbought zone on the 60-minute chart. There will be a lot of algos selling around that level if 8,600 is breached.
Key support level is 18,380, bearish below it
On Wednesday NQ rally stalled below previous pullback low before selling off very hard. It is an indication of a powerful downtrend in progress.
The selloff from resulted from the unwinding of the Yen Carry Trade stalled at the key 200-day moving average on the daily chart,and Wednesday was the second day of the bounce.
The 200-dma at 18,000 will be key support for NQ going forward. A break could cascade more selling. If NQ can stay above 18,000, we could see either a sideways action or a rally with resistance at 18,700-18,900
Japanese Yen Carry Trade and Iran-Israeli war still poses major risk to the financial market
NQ traded sideways on Tuesday, but NQ has rallied in overnight trading, an indication of a potential bullish day on Wednesday. However, where it opens on Wednesday in relation to its key inflection price zone is important in determining bullish/bearish bias..
Key inflection price level for NQ on Wednesday will be at 18,220, bullish above it, with the next resistance at 18,700-18,900, prior swing low now resistance, area where the rally may stall and where sellers may come in.
The stock market has rebounded sharply from the crash low, with NQ Monday's low at the 50-day moving average on the weekly chart. & it was a measured move (1:1 drive down) from July swing high to Monday swing low
If most of the investors caught on the wrong side of the Yen Carry Trade has been forced out of their position we could see either a multi-day or multi-week bounce before crashing back down.
On the 5-minute intraday timeframe, key inflection price level for NQ on Tuesday will be at 18,050, bullish above it, bearish below it. If NQ can break above key intraday resistance at 18,400 we should see NQ rallying higher.
VIX spiked up to about 65 point level on Monday but closed down to about 35, indicating a calmer market on Tuesday, that is, as long as the war between Israel and Iran does not heat up.
A very large selloff for NQ on Thursday following a huge FOMC-induced rally on Wednesday.
Strong overhead resistance from the 50-DMA & prior swing low which turned into resistance once broken, attracted so much selling that the market tanked all day low.
NQ tanked all day, over 800-points drop from the high, which is likely to cause huge havoc on Friday if support, at recent swing low,18,730 get clearly broken to the downside.
If 18,730 low is not violated we could see sideways consolidation pattern on Friday.
If it is broken, the next major support is at 18,000, 200-DMA & prior swing high now support.
A big gap-up opening for NQ on Wednesday ahead of the FOMC policy announcement in the afternoon. The gap-opening was above prior day high, as such it trend all day but it was very choppy.
Overnight, NQ has traded over 150 points above Wednesday closing price and starting to bump into overhead resistance at 19,720 area, a strong resistance coming in from the 50-day moving average and prior swing low now resistance.
The market rallied hard in anticipation of three Fed rate cut before the end of the year, startling at their next FOMC meeting in September
If NQ could push higher, the next higher resistance zone is at 19,850, the 50% retracement level from the high to the Tuesday low, area where many algos would be selling the rally.
Key intraday inflection p[rice level is at 19,460, bullish above it, bearish below it.
NQ dropped down hard on Tuesday dropping down to strong support before it stopped dropping.
Overnight NQ has rallied over 200 points from the close in anticipation of the Fed cutting interest rate in July.
However, given the current situation, the Fed is likely to no cut rate this time. As such we could see the bounce fade, and start selling off.
As long as the current technical support around 18,750-18,800 hold, profit-taking and support-buying algorith could still cause a big bounce.
Key inflection price level for NQ on Wednesday will be at 18,962, bullish above it, with upside target at 19,200, then 19,500, strong overhead resistance at 19,700
Bearish below 18,962 but NQ needs to clearly break below 18,700 to cause liquidation. If so, next downside target is at 18,200.
A sideways consolidation pattern again for NQ on Monday the second consecutive consolidation day following large trending down day.
Prior consolidation lasted for two consecutive days following large trending down dat. If the pattern is still continuing we should see a large trending down day on Tuesday,
If so we should see NQ dropping down breaking technical support and continue to trade below Thursday July 25th swing low at 18,887 and triggering stop-losses.
Failure to break below Thursday swing low is an indication NQ is either contuning to trade sideways or rally.
FOMC meeting starts on Tuesday, tomorrow with the announcement on Wednesday.
NQ traded sideways on Friday after bouncing from a very strong technical support on Thursday, likely to bounce for two to three days to retest the 20/50 days moving average on the daily chart.
Overnight NQ has traded above Friday swing high, nn indication we could see a large up-trending day on Monday, ahead pf the FOMC decision on Wednesday where the Fed is expecting to cut short-term interest rates.
If we get a strong market rally. NQ upside targets is in the range of 19,450 to 19,650-19,700 area.
Key intraday inflection price level is at 19,200, bullish above, bearish below it.
NQ Traded sideways on Thursday with a bearish close as bounce from its 50-DMA got sold hard. With NQ now closing for two consecutive day below its 50-DMA, the general market mode is to sell the bounce.
NQ may have to go all the way to the next downside target, the 200-DMA before we see a large multi day bounce. Its 200-DMA is at around 18,000
Key intraday inflection price level for NQ on Friday will be at 18,120, bullish above, bearish below it.
A large down-trending day for NQ on Wednesday after two days of consolidation, it started with a huge gap-down open below key 50-DMA on the daily chart.
With such a large down day and breaking important technical support such as the 50-DMA on the daily chart, we could see another large down day on Thursday as those on the long side of the market get liquidated if they are not able to meet margin call.
If so, NQ would continue to trade below Wednesday low, with the next strong technical support at 18,775-18,950 prior swing high.
If NQ can stay above Wednesday low we can expect a sideways consolidation price action before it trend down again.
A narrow range sideways trading action for NQ on Tuesday, the second consolidation day following day or large selloff days.
Overnight NQ had sold-off more than 150 points, an indication NQ is ready to trend again on Wednesday, breaking below its 50-DMA on the daily chart, with the next downside target at 19,240 technical support from previous swing high in May 23rd.
And if that support is violated, the next lower technical support is at 18,800-19,000 technical support from previous swing high in February and March 2024.
Key intraday support is at 19,630.
Above it, NQ will remains in consolidation sideways mode.
Below it, NQ is in trend mode down
On Monday NQ finally consolidate after three consecutive down day, an indication that this current down-move is very strong.
The bounce from Friday low was from its 50-day moving average on the daily chart. As such we should see 2 to 3 days on consolidation before trending back down again and then breaking below its 50-DMA.
However, due to the nature of the current decline, it is still possible that Tuesday will be another trending down day.
Key inflection price level for NQ on Tuesday will be at 19,940, bullish above, with upside target at 230,100-20,200
Bearish below 19,840, downside target at 19,700, with potential support at 19,780 and 19,850
Friday was the third down day in a row following a huge gap-down open on Wednesday last week. As such it is reasonable to expect the market to consolidate sideways or rally on Monday.
Key intraday price level for NQ on Monday will be at 19,630 as support and 19,780 as key resistance.
Bullish above 19,780 with first resistance at 20,015, and bearish below 19,630 with first support at 19,375
US President Biden has announce over the weekend that he is dropping out of the Presidential race. His decision could significantly affect market action on Monday and going forward.
Another large down day for NQ on Thursday as market participants caught on the wrong side had to exit. NQ tanked hard in the morning before trading sideways and rallied at the end of the day as shorts took profit.
With the low of the day just slightly above strong intraday support coming in from a combination of 50-DMA & double-bottom we could see NQ either rally due to shorts taking profit or simply trade sideways in consolidation pattern.
Key support is 19,700 and resistance is going to be between 20,000 - 20,270
A large gap-down and trend down day for NQ on Wednesday. NQ was down over 600-points from prior day close.
Thursday is likely a consolidation type of day. However, with such large down day on Wednesday, many traders caught on the wrong side of the current move may be forced to top-up their margin or get liquidated by their brokers. As such we could see another large trending down day on Thursday.
The next lower support is 19,700, double-bottom & the 50-dma on the daily chart. We could see a bounce from it but the market could easily slice through it to the downside.
Ket intraday price level for NQ on Thursday will be at 20,000, bullish above, and bearish below it.
Tuesday was the third consecutive consolidation day following a large down-day on Thursday last week.
NQ had a lower high and a lower low on on Tuesday, a bearish configuration, likely setting up a resumption of a downtrend, a high probability on Wednesday.
If so, NQ should stay below 20,600 key intra-day inflection price level for Wednesday, and push lower.
Strong support zone resides in the ares around 20,270-20,370 price zone, support coming from prior swing high and 20-dma on the daily chart.
A break below would cause massive selling activities, with the next strong support at 19,700
Another sideways consolidation trading pattern for NQ on Monday, the second consecutive consolidation day following a large down day on Thursday.
On Tuesday we could see another non-trending day, the location of the consolidation will depends on where it trades in relation to its key inflection price zone, for Tuesday that zone will be at 20,600.
Bullish above 20,600 with upside target above 20,800 to 20,900.
Bearish below 20,600, with first support between 20,270, to 20,370
A wide-range consolidation pattern for NQ on Friday following a large sell-off day on Thursday.
With such a large downtrend on Thursday it could take more than a day to consolidate the large downtrend. If so we could see another sideways day on Monday.
However+, with such a massive selling on Thursday we could also see a trend down day again on Monday
Key intraday inflection price zone on Monday will be at 20,660, bullish above, bearish below it.
Lower than expected CPI reading on Thursday, signalling economic weakness, triggered massive selling in tech stock and massive buying in precious metal particularly gold, as many investors are expecting more aggressive Fed rate cut.
NQ dropped over 500- points, that a hiuge drop, erasing more than four day of gain. With many investores so highly leverage during the current parabolic upmove in stocks, we should see more selling to come , whether it is on Friday or not until next week, it is difficult to know.
Key support for NQ on Friday is 20.270, it should be a strong support level, coming from a combination of prior swing high on June 20th and the 20-dma on the daily chart.
Should that level is violated we could see massive intraday liquidation drop of 500 points or more as trailing stop-loss get triggered.
A trending up day for NQ on Wednesday following two consecutive days of consolidation.
There is a high probability that Thursday could be a choppy sideways day. However, anything is possible, as such NQ could continue to trend higher since NQ is in a parabolic move higher.
Key support for NQ on Thursday will be at 20,855.
Another narrow-range choppy sideways trading pattern for NQ on Tuesday. A gap-up did not trigger any buying or short-covering because everyone has bought. NQ is in deep overbought zone on the short-tern and long term time-frame.
As such, the market may need some pullback down days before it can rally and trend up again.
Key intraday support for NQ is at 20,590. A clear and sustained break may be able to cause a big drop. Trading above 20,590 implies more choppy price action.
A narrow-range sideways consolidation day for NQ on Monday following three consecutive trending up day
If consolidation has ended we should see a trending up day on Tuesday. If so, the next upside target is 20,800-20,850. To do so NQ would need to stay above key line in the sand for Tuesday, 20,640 area.
Ideally, NQ wound open with a gap-up above Monday swing high and then push higher inorder to force the shorts top cover and trigger buy programs.
If NQ should trade below 230,640, key support is at 20,550.
The stock market was manipulated higher while everyone was away. As a result, stop-losses were ran-over and trigger which help propel the stock market higher last week on Tuesday, Thursday and Friday..
With most market participants back on Monday we could see either more short-covering if the stock market remains at its current level or move higher, or sell-off if it breaches certain price level.
With the stock market in very overbought zone on most time-frames as a result of last week very low volume rally we could see sharp selling if the stock market cannot maintain its current price level or move higher.
For NQ, its intraday inflection price level is at 20,610, bullish above it and bearish below it, with key support at 20,370
A choppy sideways trading pattern for NQ on Monday. With most traders and investors out of the office for the 4th of July holiday, the chop should continue.
Key inflection price level will again be at 20,350, with first resistance at 20,160, first support at 19,920
Friday was a wild trading day, with large and sharp rally early in the morning that was followed by a large decline for the rest of the day.
With most traders and investors on holidays for the Fourth of july holiday the low trading volume allows some large fund to move the market wildly.
The pattern could continue to dominate the market all this coming week as trading volume should continue to be low.
Key intra-day inflection price level for NQ on Monday will be at around 20,025, with first resistance at 20,165 and first support at 19,925.
Another choppy sideways day for NQ on Thursday, the 3rd slightly bullish day in a row.
With Friday potentially a choppy sideways day, unless NQ can open with a gap-up above Thursday swing high, and triggers short covering we could see NQ rally to resistance (20,125-20,160) in the morning then decline to support 20,060 and 20,000.
If NQ should open and trade below 19,925, we could see a sell-off But that could wait until Monday. With most traders and investors out of the office for the US 4th of July holidays, the market could continue to trade in a choppy zone,
A slightly bullish, narrow range choppy day for NQ on Wednesday. It was also the second consecutive up day. The current 2 day rally was choppy, and indication that Thursday being a third day could be a down day, a resumption of the recent three day decline.
If so, NQ should break below Wednesday swing low and push lower and run-over trailing stop-loss.
As such, if NQ can break above Wednesday swing high and stay above it we could see huge rally day, with the next resistance at 20,125-20,150.
After three consecutive day of decline NQ rallied on the fourth day. As long as NQ remains above Monday's swing low, 19,727, NQ should either continue to consolidate or rally.
Key intraday support for NQ on Wednesday will be at 18,925 and key resistance is 19,990.
Trading above 19,990 should continue to trigger short-covering, with the next resistance at 20,150 if the market is very bullish. A choppy market could rally up to 20,075
Trading below Monday low after just one rally day is an indication the market is very bearish. If so the next support level is at 19,600
A large down day for NQ on Monday. With the low of the day nearing support, the 20-ma on the daily chart, 19,540, we could see NQ consolidating its trend down day.
If so NQ could rally up to the key inflection price level, 19,825. If that is violated to the iupside, the next rally target is at 19,925 - 19,965.
If NQ should trade below Monday swing low, the next support is the 20-ma on the daily chart, 19,540.
On Friday NQ dropped down to support, prior swing hgi from 13-June swing high, 19,925, then bounced, but Friday was just a sideways consolidation pattern.
It seems that financial liquidity may be dropping with Bitcoin already down about 2K so far toning, and indication Monday could be a bearish day.
Key intraday support level for NQ on Monday is at 19,925, bearish below it and neutral to bullish above it.
Key resistance for NQ on Monday is at 20,075-20,126
Instead of trending-up following a consolidation day on Tuesday, NQ pullback down on Thursday. It was a bearish reversal day..
On the daily chart, NQ was in very deep overbought condition and likely beginning a 3-day pullback down before rallying back up again to higher high, with potential upside target at 20,500 to 21,000 before beginning a large multi-month downtrend in summer, likely from July to October.
On the intraday timeframe. key inflection price level is at 20,125. If NQ is not able to clearly break above that level we could see another down day on Friday, with key support at 19,900 zone.
Trading back above 20,125 is bullish, and NQ could go back up to retest the recent high 20,270.
A sideways choppy day for NQ on Tuesday following a large up-trending day on Monday and ahead of the holidays on Wednesday.
Now that the holiday is over and that the market has consolidated, NQ should resumes the uptrend on Thursday. If so the next upside target is at 20,500-20,600.
For that to happen NQ should open and trade above Monday high of 20,270.
A huge rally for NQ on Monday with end of day profit-taking decline.
Usually after such a large trending day the market would need to consolidate the trending move and the probability of a consolidation day on Tuesday is high especially as the market will be close on Wednesday for the Juneteenth Holiday.
Key inflection price level on Tuesday will be at 20,180., bullish above with the next upside target at 20,350, and bearish below it with potential support at 20,050
After three day of narrow-range chuppy days following a huge gap-up opn, on Monday we could see either a sharp pullback down move or a large rally day.
Key intraday price inflection level for NQ on Monday is at 19,900, bullish above it, with the next upside trend target at 20,100-150.
A sharp pullback down move below 19,900 target 19,650
A sideways consolidation day for NQ on Thursday. Friday might be another sideways type of day unless NQ can push higher above 19,650 and trigger more short-covering ahead of the weekend.
Key support is 19,550, then 19450.
NQ was engineered higher overnight on Wednesday night to cause a short-covering rally ahead of the FOMC decision on Wednesday. As usual, after a short-covering rally in the morning NQ then trade sideways most of the day.
On Thursday we could see NQ rally in the morning and then pullback down in the afternoon. Although not so likely, we could also see NQ rallying again on Thursday if more shorts are forced to cover.,
The next upside target is 19,750 zone.
A slight bullish price action for NQ on Tuesday ahead of the FOMC policy announcement on Wednesday. It is widely expected that the Fed is not going to change their policy, expecting NO rate cut.
Key intraday support for NQ is now at 19,150, bullish above, bearish below it. The next upside target is 19,400-19,500.
The FOMC June meeting will start on Tuesday with the announcement on Wednesday. A such, we could continue to see a narrow range choppy action on Tuesday as long as NQ remains above key support level, 18,980.
A sustained break below could cause some heavy selling ahead of the FOMC policy announcement on Wednesday. However, that would be highly unusual, but it could still happen if the insiders sense what the FOMC is going to do.
Next support below 18,980 is 18,760
