Another sideways tradign action for NQ on Thursday with the close just below key breakout level, 18,100. A sustained break could trigger trending up day, with the next upside target at 18,300.
Failure to break above 18,100 is an indication NQ is still in pullback mode.
Key inraday inflection level for NQ on Friday is at 18,030, bullish above it, bearish below it with the next lower support at 17,980
Another choppy down day for NQ on Wednesday, the 3rd consolidation day in a row. The choppy price action may conntinue until NQ can breakk out above 18,120 swing high.
Key intraday inflection price level for Thursday is at 17,970, bullish above, with first resistance at 18,100, bearish below it withy first support at 17,800.
A choppy sideways day for NQ on Tuesday with a close above key inflection price level of 18,000. The technical pattern on the 5-minute chart, the 60-minute chart and the daily chart looks bullish at the close.
If the consolidation is complete we should see NQ trade above 18,000 on Wednesday and then rally with key resistances zone at 18,120-18,150. A clear break above 18,150 sets up a quick rally to 18,500 within a few days.
Trading back below 18,000 is bearish, an indication the pullback is still in progress, next lower support is 17,800.
A very choppy and narrow range type of day on Monday, day two of consolidation following an extremely huge gap-up and rally up on Thursday.
Tuesday being day three of the current pullback, if the current rally is to continue, it should rally on Tuesday. Failure to do so is an indication NQ is going into a larger pullback with the first downside target at 17,800 support.
Key intraday support for NQ on Tuesday is at 17,960. A sustained break below that level is bearish, and the next support is at 17,800
NQ opened with a gap-up and then pushes up to above prior swing high before profit-taking and selling tanked NQ back down. It was a bearish day, reversal day for NQ on Friday.
Failure to stay above prior swing high afyter breaking above it is bearish, thus the selling should continue into Monday, as long as NQ does not break back above Friday swing high.
Key inflection price level for NQ on Monday will be at 17,960, bullish above with first resistance at 18,100, and bearish below it with first support at 17,900 but it should go down to 17,800.second and stronger support that could stall or reverse the decline.
A huge record breaking gap-up open for NQ on Thursday following NVDA earning reports. As such the shorts were forced to cover causing NQ to trend up all day with a little bit of profit-taking decline at the end of the day.
Key price level for NQ on Monday will be at 18,121, a double-top resistance, prior swing high from February 12th. There are two possibilities, a break and then trend uip all day again on Friday, or pullback and consolidate waiting for a break next week.
Key price level for Friday will be at 18,121, bullish abovewith the next upsiade target at 18,300 and bearish below with first support at 17,968, then if that breaks, 17,765
It was a choppy decline to lower low for NQ for most of the day on Wednesday as it slowly dropped down to just below 17,400 support zone before it started to bounce.
Near the end of the trading session, and ahead of the NVDA earning release after the market closed, profit-taking and buying caused NQ to shoot up into the close.
After the released of NVDA earning NQ opened the overnight trading session with a huge gap-up of over 250 points to above 17,760 key resistance level. If it should stay up and opened above 17,760 morning, now key inflection price level for NQ on Thursday we should see massive panic short-covering that should propel NQ upwards to 18,000 resistance level.
As long as NQ stays above 17,760 we should see NQ stay trending up all day. If so, the 50-ma on the 5-minute chart will then become key trend indicator (support)
On Tuesday NQ opened below Friday swing low and then sold off down to just below 17,500 support before consolidating sideways to slightly up in the afternoon.
The afternoon rally was choppy and looks like a setup for the next down leg to lower support, 17,400 then 17,300.
Key support on Wednesday will be at 17,500, bullish above bearish below.
NVIDIA is set to release its earning report after the market close on Wednesday, as such NQ could remain choppy ahead of the earning release.
A choppy up day for NQ on Thursday. Looks like NQ may not make a higher high above recent high of 18,120.unless it can break key resistance of 18,000.
Going into the long weekend for Washington's birtday, NQ may just trade sideways.
A breakout of the 17,800-18,000 trading range could cause a trending move out of the range. With so many recent Fridays a strong up day, keep an eye on 18,000 price level. If NQ cab break and stay above 18,000 we can see another trending up Friday.
Failure to break above 18,000 is an indication NQ is going top trade sideways, unless of course it breaks below 17,800.
Tuesday low of the day was at 20-moving average on the daily chart. On Wednesday NQ opened with a gap-up. Then after closing the gap, rallied with a close at the high of the day.
For Thursday, as long as NQ can stay above 17,800, now key support, NQ would have a bullish bias as such we could see NQ continue to rally with first resistance at prior swing high 18,120.
Trading back below 17,800 is bearish with supports at 17,575, then 17,400 if the market gets very bearish.
A huge gap-down open for NQ on Tuesday, with the close in the middle of the range with late day rally. but with the close in the middle of the day range Wednesday trend direction will depends on where it opens on Wednesday.
Key inflection price level for NQ on Wednesday will be at 17,650, bullish above with key ressistance at 17,800. If that breaks, the next higher resistance at at 17,900.
Trading back below 17,650 is bearishwith the next support at 17,400, then 17,150
A reversal day for NQ on Monday, started with morning rally then reversed in the afternoon with a close at the low of the day, making Monday a reversal day on the daily chart.
Is it going to be a 1-day reversal and then the rally continues, or is it going to be a multi-day decline?. Only time will tell.
Key inflection price level for NQ on Tuesday will be at 18,000, bullish above it, bearish below it with supports at 17,870-17,900, then 17,760-17,800.
A big rally in the equity market on Friday as many of the shorts may have decided to cover.
Following a big rally like Friday we usually see some sideways consolidation, likely on Monday. However, if there are many more shorts that needs to cover, we can get another big rally day on Monday.
The likely target for the current up-leg is 18,500 before a big 700-points pullback.
Key intraday inflection price level for Monday is 18,100. Bullish above it, bearish below it, with key support at 17,875
NQ traded sideways in a vary narrow range above broken-resistance, now support, 17,800. As long as NQ remais above 17,800 it could either continue to trade sideways, or rally if the shorts decide to cover.
NQ inflection price level for Friday is 17,800, bullish above it bearish below it.
On Wednesday NQ opened below key resistance level, 17,800 but quickly broke above and remained above it into the close.
NQ is in breakout mode above 17,800
17,800 will be key level for NQ on Thursday. If it can open above it and push higher, we can expect many shorts would starts to cover. If that is the case we could see large trending up day that will last all day, with reasonable upside target at 18,000-18,100, but it could go much higher
If NQ should break back below 17,800, we could see some sharp selling with support at 17,500-17,600.
On Tuesday NQ continued to trade inside a range, not able to break above key resistance, 17,800. As long as it trades inside the range 17,500 support and 17,800 resistance, a 300-point trading range, it should continue to trade sideways.
Key intraday level for NQ on Wednesday will be at 17,675, bullish above, with key resistance at 17,800, and bearish below, support at 17,500.
If overnight is an indication of trend, we should see NQ open below 17,650 and then trend ddown to 17,500 on Wednesday. The second support level is 17,400. If 17,400 is broken decisively, the next support is back down to 17,150, a very strong support.
A sideways trading action for NQ on Monday which is normal following a trend day on Friday. By the end of the day Monday NQ looks ready to trend back up again on Tuesday.
To trend up, NQ would need to break above 17,800 where many stop-losses resides. If so, we can see NQ rocketing up to 18,000 or higher.
However, if NQ should trade below 17,675 we could see NQ drop down to 17,500 very quickly.
A huge rally for NQ on Friday, from 17,500 support to just below 17,800 resistance.
For Monday, if NQ is not able to break clear above 17,800 we could see some selling, with strong support at 17,500. As such we could see some sideways market., with resistance at 17,800 and support at 17,500.
On Thursday Q started to rally without having to drop down to support an indication how bullish NQ is.
NQ closed back above 17,500 putting it back into the bullish zone. With so many traders and investors misses the exit on their short at support and many missed their buy entry, we could see massive rally on Friday.
If NQ can break above 17.,600 we could easily see NQ rallying up to 17,800 double-top resistance.
