NQ Guideline For Wednesday

On Tuesday, the stock market has started to sell-off ahead of the FOMC decision on Wednesday, likely in anticipation of a hawkish announcement by the Fed.

Key support for NQ on Wednesday will be at 17,400. If that should be violated NQ is like;ly to drop down below the recent low, 17,100, and drop all the way down to 16,700 support. It could drop down to it on Wednesday or may extend to thursday.

If NQ 17,400 should hold, NQ could rally back to 17,900-18,100 price zone as the shorts would have to cover.

NQ Guideline For Tuesday

A sideways action for NQ on Monday ahead of the FOMC meeting with their policy decision announcement on Wednesday afternoon.

Current NQ trading range is 17,800 support and 17,950 resistance.

NQ may or may not breakout ahead of the FOMC decision on Wednesday. If so, NQ could remain inside the 18,000-18,950 trading range, and it will be choppy.

A break out of the range could cause a large move away from the ramge. Above 17,950 NQ upside target is 18,050-18,150

A break to the downside target 17,600 and then 17,450 if 17,600 is violated. 

NQ Guideline For Monday

A rally day for NQ on Friday. The high of the day was starting to bump into area where profit-taking and short selling would start, the 50% retracement from the high to the low on April 19 plus minor resistance at 17,950

The next key resistance above 17,950 would come in around 18,100 resistance, a combination of reasons, prior consolidation low, .618 Fibonacci retracement level, 50-DMA and overbought zone on the 60-minute chart. This level may cause either a reversal back down or cause 2 to 3 days pullback.

Intraday inflection price level is at 17,800, acting as support as of the close on Friday. If that level gets violated to the downside, the next lower support is at 17,600

NQ Guideline For Friday

Wednesday was a gap-up opening that was followed by a downtrend day all day. Then on Thursday NQ opened with a huge gap-down, then followed by trend up all day.

Now that NQ has been trading up over 200 points overnight we could see a huge gap-up open on Friday. If so, then the key to trend direction would depends on where it trades soon aster the open in relation to its key price level, which on Friday will be at 17,800.

NQ is bearish if it is not able to trade above 17,800. If so, it is likely to drop back down to the next support at 17,580.

NQ is bullish above 17,800 with potential upside target at 18,100, with weak resistance at 17,950.

NQ Guideline For Thursday

Wednesday was the 3rd pullback day for NQ. NQ opened with a huge gap-up, rallied up to resistance then reversed, closing at the low of the day, a classic bearish reversal day.

Overnight NQ has dropped over 200-points as I wrote, at midnight Eastern Time, a clear indication that the downtrend has resumed.

Key support for NQ on Thursday will be at 17,400. With so many people buying the recent drop from the high, if 17,400 support is violated to the downside in the morning on Thursday we are likely to see a cascade of selling that could easily tank NQ down to break its recent low at 17,100. 

The next strong support is at 16,700. Whether NQ can get there in one day is difficult to know, it could take one or 2 days to get there.

NQ Guideline For Wednesday

A big rally day for NQ on Tuesday with a close near the high of the day, a bullish close, usually followed by a gap-up open and then reverse back down.

However, there is nothing normal about the current price actions. As such we could see another large up-trending day on Wednesday, the third day in a rown.

Key price level for NQ on Wednesday will be at 17,620, bullish above with the next resistance at 17,950-17,800. 

If that gets broken o the upside, the next higher resistance is at 18,000-18,100. That's still very far up. NQ would need massive short-covering to get it to 18,000-18,100 price zone on Wednesday.

NQ is likely to rally to 17,950-17,800 in the morning, then reverse back down to retest support at 17,620.

NQ Guideline For Tuesday

A consolidation day for NQ on Monday after a multiday down-trendjng moves. If the current high momentum down-trending move is still in progress NQ downtrend should resume on Tuesday with the next support at 16,700, a strong support zone.

Key intraday inflection price level is at 17,330, bullish above, with the next resistance at 17,620, and bearish below it, strong support at 16,700.

NQ Guideline For Monday

Another large down day for NQ on Friday. The next major support for a potential multiday bounce is at 16,700, previous swing high  from July 19, 2023, 200-dma and oversold zone. 

However, should that support be broken without a pause, selling could lead to a big 1000-points day crash as those holding long get forced liquidation.

If Monday is a bounce or consolidation day potential resistance is at 17, 500.

NQ Guideline For Friday

Another down day in the stock market on Thursday with NQ making another lower low, and in oversold territory.

NQ downside target remains at 16,700. The overnight low on Thursday night has violate a strong support zone 17,300-17,400. The direction it trades on Friday will depends on where it trades in relation to the support zone.

Intraday inflection price is at 17,600, bullish above, bearish below it. 

NQ Guideline For Thursday

A large down day for NQ on Wednesday following a very narrow range consolidation day on Tuesday. 

At the end of the day on Wednesday NQ was in oversold condition on both the short-term intraday timeframe and the daily timeframe, which could cause a 2 to 3 days bounce before going back down to the next major support at 17,370 - 17,400.  As such, we need to watch for the possibility of a multiday bounce..

However, even with an oversold condition the market can still continue to get more oversold without a bounce because of the heavy selling pressure.

On the intraday basis, key inflection price level for NQ on Thursday will be at 17,700, bullish above, with first resistance at 17,850, and bearish below it with the next lower support at 17,620, then 17,400

NQ Guideline For Wednesday

A very narrow and choppy trading action for NQ on Tuesday following a very large trend down day on Monday.

With NQ remaining below broken support, 18,100 for the second day in a row, there is a good chance that the longs would bail out of their long position on Thursday and cause a very large trend down day again. To do so any rally has to stay below 18,100.

Technical pattern on both the 5-minute chart and the 60-minute chart is not projecting a trend day, that is as long as NQ can stay above Tuesday low, 17,820. However, a sustained break could tank NQ with the next support at 17,370.

NQ Guideline For Tuesday

A large sell-off day for NQ on Monday, finally broken key support, 18,100 price level, now key resistance on any bounce. As long as 18,100 is not broken-back to the upside selling pressure will continue, with the next support at 17,375 prior swing high from December 2023.

It may take one day or two days to get there if NQ remains below 18,100 as stop-losses for those holding long position get triggers.

On the intraday basis for Tuesday, key inflection price level is at 17,935, bullish above with key resistance at 18,100, then 18,200, bearish below it, next support 17,375.

NQ Guideline For Monday

On Friday NQ opened with a huge gap-down and then trend down all day. NQ continue to consolidate above 18,000 price level, if broken is likely to cause a cascade of selling. Strong support below 18,000 is at 17,380, which should be a good lower target on a break below 18,000.

Key intraday inflection price level for NQ on Monday is at 18,200, bullish above, and bearish below it.

With declining liquidity in April and possible into June, it is just a matter of time before 18,000 support will break. 

NQ Guideline For Friday

 A large short-covering rally in the market on Thursday. Usually following a huge rally like on Thursday it's usually followed by choppy sideways consolidation day.

Key level to watch on Friday is at 18,400 support and 18,600 resistance. A choppy day would trade inside the 200-points range,

18,400 was a very strong resistance, it should now serves as a very strong support. However, anything is possible.

Gold is now in a real breakout mode, next upside target is 2,500

NQ Guideline For Thursday

A narrow-range sideways trading action for NQ on Wednesday as NQ continued to trade just above key support level at 18,000, with key resistance at 18,400

The sideways price action should continue until it breaks below 18,000. A break should attract heavy selling with the next support at 17,380.

With liquidity expecting to fall sharply selling pressure should continue to intensify.

NQ Guideline For Wednesday

Since breaking above 18,000 on February 22nd, 2024, NQ has been trading sideways above 18,000, now acting as support and 18,600, now as resistance.

NQ has not been able to trend up since February, instead it has been trading sideways, a topping process.

The declining liquidity in the next one to two month is going to cause a pullback decline. With most traders and investors mostly long the market, we could see large and sudden drop with no buyers, as stop-loss gets hit.

Key support is now 18,000.

On the intraday basis, key price level to watch for on the NQ is at 18,400, bullish above, first resistance is atat 18,600, and bearish below it, with first support at 18,200.

NQ Guideline For Tuesday

A narrow trading range for NQ on Monday. The range continued to narrow, setting up a big move. The timing is difficult to forecast, but the key is a breakout of the current narrow range, 18,250-18,400

Key range breakout price levels are 18,400 to the upside and 18,250 to the downside.

A sustained break out of the range is going to trigger breakout trades, leading to trend day, with upside target on a break above 18,400 to 18,600. The downside target for a downside break below 18,250 is 18,000. 

18,000 is a strong support. However, a break below 18,000 target 17,400. a 600 point drop which could easily happens in one trading day.

NQ Guideline For Monday

After a huge sell-off on Thursday, Friday was a profit-taking bounce, the high as at 18,400 which is a key resistance.

On Monday, key price levels will be 18,250 as support and 18,400 as resistance. A break out of the zone, especially if NQ can trade above 18,400 we can see a big rally back up to 18,600-18,700 zone.

Trading back below 18,250 is bearish, with the next key support at 18,000. If NQ should clearly trade below 18,000 the next major support is not untiil 18,380.

NQ Guideline For Friday

On Thursday after opening with as huge gap-up the market sold off hard in the afternoon. NQ dropped down to just above 18,000 strong support, previous high from January 24th, now should provide a bounce point.

However, if that gets broken on Friday it would trigger a lot of stop-loss selling that could tank NQ down to the next support, 17,380

Intraday inflction price level is at 18,400, now acting as resistance, support at 18,000

NQ Guideline For Thursday

Another choppy range bound sideways trading action for NQ on Wednesday. There is still no clear ssign that NQ is going to trend. NQ is stil inside a choppy range, not able to rally as liquidity is decline, but not much selling pressure because of the bullishness of the market conditions.

With April 15th as the dateline for tax payment to the government, we should continue to see more selling pressure going forward.

On the intraday basis, key price level for NQ on Thursday will be at 18,400, bullish above with the next resistance at 18,600. Suppoer below 18,400 is at 18,300 then 18,200.

NQ Guideline For Wednesday

A huge gap-down open for NQ on Tuesday. It looks like the stock market has topped but it will trade up and down around the high for a wile before finally dropping down and trend down.

As we can see from the daily chart NQ has been trading trendless between 18,000 support and 18,600 resistance. And as long as NQ can stay above 18,000 the sideways trendless and choppy price action is going to continue.

Om Wednesday intradey support is at 18,300 and resistance at 18,400

NQ Guideline For Tuesday

A sideways rice action for NQ on Monday. Attempted rally continued to fail. It is just a matter of time before it breaks critical support, which is currently at 18,400. A clear break with a close below 18,400 could starts to trigger strong selling pressure.

On the intraday basis, resistance is at 18,600 and support at 18,400