NQ Guideline For Monday

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.

NQ Guideline For Friday

 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, 

NQ Guideline For Thursday

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.

NQ Guideline For Wednesday

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

NQ Guideline For Tuesday

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.

NQ Guideline For Monday

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

NQ Guideline For Friday

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. 

NQ Guideline For Thursday

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.

NQ Guideline For Tuesday

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

NQ Guideline For Monday

 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

NQ Guideline For Friday

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 Guideline For Thursday

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. 

NQ Guideline For Wednesday

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.

NQ Guideline For Tuesday

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

NQ Guideline For Monday

Friday was  the second consolidation ay for NQ and the equity market following a huge up-trending day on Wednesday. 

Monday could be a large range day if NQ could break below key support of 18,980, with the first downside  target of 18,760.

Key inflection price level for NQ on Monday is at 18,980,bullish above it, bearish below it.

NQ Guideline For Friday

A narrow range sideways consolidation day for NQ on Thursday following a large uptrending day on Wednesday.

On Friday, as long as NQ remains above 18,984 we could see either another sideways day or a trending up day, with the next upside target at 19,400-19,500. ECB cutting rates help boost global liquidity, bullish for the market.

Trading below 19,980 implies more consolidation before trending back up again.

NQ Guideline For Thursday

A huge rally day for the equity market on Wednesday as easing cycles was has started, with the Bank if Canada cutting short term rates. This should soon be followed by the ECB the the US FED as the western economy starts to slow down fast.

This rate cut cycles should boost financial market, triggering rally into its final explosive capitulation phase, the speed of the blow-off top could be very very fast. NQ next upside target before a big correction is 21,000-22,000

On the intraday timeframe, following Wednesday massive up-trend we should see an 80% chance of a sideways consolidation, with NQ making a higher high in the morning or in the afternoon, and 20% chance of another trend up day on Thursday consolidation.