A very narrow range day for NQ on Wednesday, setting up for another trend up day on Thursday or a pullback day now that NQ is bumping into strong resistance and an overbought condition on the daily chart
Key intraday support for NQ on Thursday will be at 21,300. A break implies a pullback down to 21,000 support..
Trump decision to temporarily paused high tariff on China was an excure to launch massive buy program to forced the short to cover, thus halting market meltdown.
This bullishness is likely just temporarily as there is really no tariff deal, and the negative impact of Trump tariff will soon manifest itself, and economic shock and market sell-off will resume.
How soo will the selling resume, it is difficult to say. If short-covering continues we could see massive rally first before selling off.
For NQ key price level is now 21,000, bullish above, bearisg below it. If there is a pause before a break above 21,000 we could see NQ dropping down to 20,500 area and then break above 21,000.
NQ would need to break below 19,500 to trigger massive selling. For the current rally to stay intact NQ must stay above 20,500 on any pullback.
The stock market has rallied sharply in overnight trading as the US is using the tariff meeting with China to push the stock market up,
NQ is now trading at the lower resistance band 20,500-21,000. Without substantial result from the tariff talk the stock could sell-off hard. NQ would need to break above 21,000 to change the trend from down to up on the daily chart.
Key resistance for Nq on Monday will be at 20,500, bullish above and bearish below it.
Even with massive market manipulation by the Trump team, a combination of Tariff deal with the UK and massive buy program late on Wednesday the market failed to breakk above resistance on Thursday even with a huge gap-up open.
Friday may just be a sideways market action with key resistance at 20,500 and key support at 20,000. For NQ it may just trade within the price zone 20,000-20,500. Selling may have to wait until next week.
NQ would need massive buy programs to push it higher than 20,500.
Now that the FOMC meeting for May is out of the way market participants can make their decision. It seems that the market has rallied in overnight trading and if the rally can continue into the open on Thursday we could see a trending up day starting with a gap-up open.
If it is going top be a trending up day the next upside resistance zone is between 20,500 to 21,000. Whether or not it take one day or two days to get there we just have to wait and see. NQ would have to drop back below 19, 200 to turn bearish
For now, key support is 19,200-19,400 and key resistance is 20,500-21,000.
A very narrow range choppy price action for NQ on Monday as traders and investors wait for the Fed policy announcement on Wednesday.
Tuesday could be similar to Monday price action as market participants wait for the Fed policy announcement.
Key intraday support is at 20,000, a break below target 19,675. Staying above implies a rally back up to Friday swing high.
On Friday, NQ rallied into the bottom later of strong resistance zone on the daily and weekly chart, the area between 20,500 to 21,000. This resistance price zone is very strong, NQ may need to pullback down from it before attempting to break through.
This resistance zone may be where the current rally stop and the next sell-off begin. Trump tariff war is probing to be very costly to american companies. As their earning begin to drop sharply their stock price would follow.
Key intraday support is at 20,000. A break below could tank NQ down to 19,680. If that does not hold, next support is at 19,200.
A negative GDP reading, implying economic contraction, released before the open on Wednesday caused massive sell-off before the open causing a big opening gap down. However, the opening gap was only down to key support.
The market sell-off turned into buying frenzy as investors are betting that the Fed may have to cut interest rate in May. Buyer came in and forced the shorts to cover resulting in a big rally from the opening low.
NQ daily chart pattern is bullish, and could rally 1,000 in a day or two, up to the next resistance at 20,800-21,000.
NQ continued its slow choppy rally on Tuesday forcing short-sellers to slowly cover. As long as NQ remains above 19,200 the shorts will continue to be under pressure.
Key intraday price level for NQ on Wednesday is at 19,600, bullish above it and choppy below it.
Another sideways trading pattern for NQ on Monday. With NQ remaining above 19,200, previous resistance now turned support, as long as NQ remains above 19,200, there is a strong possibility NQ is going to 20,500, the next resistance,
However, with the intraday time frame and the 60-minute time-fame in overbought condition we could see more consolidation on Tuesday, unless of course NQ can push higher and then trigger another round of short-covering.
Key intraday price level for NQ on Tuesday will be at 19,600, bullish above it, bearish below it.
A small up trending day for NQ on Friday with the close above 19,200 key support level on the daily chart.
Technical pattern on the daily chart and weekly chart is very bullish. As such, as long as Trump does not say stupid about tariff we should see a bullish up-trending day on Monday. The next resistance is at 20,500.
Key intraday support to keep the up-trending day in play is 19,450. NQ must stay above 19,450. A break below that implies sideways day, with ;lower support at 19,200
A huge non-stop rally for NQ on Thursday. The rally continues into the overnight globex trading session. Key price level to watch on Friday will be 19,400, bullish above it and bearish below it.
With stop-loss congregating just above 19,400, if the shorts covers we could see very sharp rally on Friday if NQ could stay above 19,400 and then pushes higher.
If NQ is not able to hold above 19,400, we could see a sharp pullback down to re-test 19,200 broken resistance, now support or lower
A large gap-up open for the stock market on Wednesday but it did not hold up as the market sold off hard with NQ closing way below the gap-open. Key resistance is now 19,200 and that would serve as strong resistance going forward.
On the intraday basis on Thursday we could see NQ dropping down to 18,450 support, if that support level holds, we can see NQ rallying back up.
An up day for NQ on Tuesday started with a huge gap-up and then traded sideways, setting up for another leg up.
The market has a big rally overnight setting up another big gap-up open and the up up.
Key upside resistance is 19,200, which may pose some resistance on the way up, and may cause some pullback.
Key inflection price zone is at 18,450, bullish above it, and bearish below it.
A down-trending day for NQ on Monday with a late day reversal. Overnight the rally continues with NQ up over 100 points in overnight trading. If the rally continues into the regular trading hours we could see a bullish Tuesday.
Key inflection price level for NQ on Tuesday is at 17,900, bullish above it with resistances at 18,150 then 18,500, and bearish below it, with first support at 17,500.
A sideways consolidation day for NQ on Thursday and the market was closed on Easter Friday. NQ is bearish on the daily chart and could go either way, up or down on Monday. The 60-minute time-fame and the 5-minute time-frame are both showing a balance pattern..
Overnight on Sunday night the US stock market has been coming down over 200 points as international investors continue to sell US assets. The key would be when New York market opens for trading on Monday.
For NQ, key price level are 18,500 resistance. A breakout above would be bullish, upside target is 19,000-19,200. Key support level is 18,120, bearish below it, with first downside target at 17,500.
A gap-down and trend down day for NQ on Wednesday with a sharp rally at the end of the day as investors cover their shorts ahead of the long weekend, setting up a bullish Thursday as shorts continue to cover.
NQ is up after market, setting up a potential gaap-up open that is likely to forced more shorts to cover. If so, we should see sharp rally to resistance 18,800-18,900 in the morning then trade sideways.
Key price level to watch for is 18,430. NQ has to stay above 18,430 for the above setup to play out. Breaking back below 18,430 is bearish.
Tuesday was day six consolidation day six consolidation day following a massive three day decline to a low on Monday April 7th. As such we should see a resumption of the downtrend on day 7th on Wednesday.
Key support is now at 18,400.
A sustained break below could trigger massive liquidation decline. Failure to break implies a bounce, or sideways action before a waterfall decline perhaps on Thursday ahead of the long Easter weekend.
A sideways trading action for NQ on Friday. Depending on what Trump says about tariff against China, we could see big rally on Monday or big sell-off.
Key level for NQ will be at 19,400 key breakout resistance, bullish above it with strong resistance at 20,400.
And 19,200 for key breakdown support., bearish below it.
On Thursday NQ dropped down from resistance as tariff war with China escalates. A massive selling in the US bond market is ready to collapse many of the US hedge funds which can bring the whole global financial system to massive collapse.
The problem created by Trump cannot be reversed no matter what he does from now going forward. Global economic and financial collapse is now a certainty and the stock market is ready to collapse at any time now
NQ key resistance is now at 19,200 and death cross on NQ has just been triggered and massive selling is about to unfold in the stock market.
Massive intervention by either the US government entity or the Federal Reserve rocketed the stock market up om Wednesday. How long will it stay up here is anyone's guess, it could be just a one or two day rally, then tank again.
The financial system is ready to collapse as numerous bond arbitrage hedge funds and banks are on the very of collapsing, and may need to be bailed out, in the amount that is likely to be in excess of 2T dollars just the keep the financial system from total collapse. Bond yield a spiking up very sharply.
Key price level for NQ on Thursday will be at 19,400, bullish above it with the next resistance at 20,400, and bearish below it, support is again at 16,000-16,700.
Crash or Bounce For Wednesday
Attempted rally failed on Tuesday as Trump announced another 50% increase in Tariff on China for a total of 105% tariff and promised to increased it higher is China does not comply, and China promised to fight Trump to the end. That set the market tanking on Tuesday
Depending on what Trump announce on Wednesday we can either see another attempted bounce or a crash.
Strong support for NQ is at 16,000-16,700. Normally there would be a big bounce from it, but tariff war is real, and neither side is going to back down.
A very wide-range sideways consolidation pattern for NQ on Monday. The closing price was in the middle of the range, a neutral close.
With the market still in unbalance stae due to Trump tariff policy anything is possible. With such a powerful selling momentum the market should move again on Tuesday, downward to continue the trend or upward to relief the oversold selling pressure.
Key resistance is 17,800, bullish above , strong resistance at 19,200.
Key support is at 17,150, bearish below it with the next support at 16,000.
A huge gap-down open and rundown for NQ on Thursday due to the impact of tariff. NQ dropped down over 1,200 points from the previous day close.
Friday is either another sell-off day or a pause day, a sideways consolidation pattern.
The impact of tariff is real, and is likely to trigger more capital outflow fron the USA, which is bearisg for the stock market and bearish for the US economy.
Key level for NQ on Friday will be at 18,450, as key support level, bearish below it and neutral to bullish above it.
A massive sell-off in the equity market after the Trump tariff announcement. NQ tanked over 1,000 after the announcement but has rallied back up overnight.
Key level to watch for on Thursday will be at 19,200, bullish above it and bearish below it with for support layer between 18,500-18,700.
A sideways consolidation pattern for NQ on Tuesday following a large up-trending reversal day on Monday. With a very stronmg reversal up day on Monday and a pause oon Tuesday we shoould see NQ rallying up again on Wednesday.
Key resistance to break to cause an uptrend on Wednesday is at 19,600. A break should catapult NQ quickly to the next resistance at 20,000.
Failure to break above 20,600 could attract selling. NQ would need to break below 19,200 to trigger a liquidation decline.
Trup tariff on Wednesday will be key market-moving news.
A trending-up reversal day for NQ on Monday, started with a huge gap-down open followed by all day rally. Normally this should be followed by a consolidation day, trading between 19,600 and 19,200 support.
Only a break above 19,600 or a break below 19,200 could change the above pattern. Anything is possible as Trump tariff approaches. It will all depends on what Trump says
A very large trending-down day for NQ and the genera; equity market on Friday. With Trump tariff schedule to be in place on April 02, we could see huge selling activities on Monday.
Key level to watch is at 19,200, bullish above it, but extremely bearish below it.
First support is at 18,700 then 18,450. These zones are strong support but with the tariff scare looming, these support may not hold as massive selling may just crash through it.
A sideways consolidation pattern for NQ on Thursday following a large down-trending day on Wednesday. With Friday's tendency to trade sideways we could see NQ trading sideways again on Friday, then trend again on Monday.
Key price level for NQ on Friday will be at 20,000 support.
A sustained break below 20,000 could start to trigger liquidation decline. If so we could see NQ dropping down to the next support level, a double-bottom support with March 11th and 13th swing low.
Both on the 60-minute chart and the daily chart NQ looks ready to tank. However, it may have to wait until Monday next week.
NQ sold off hard on Wednesday after not being able to break above strong resistance from a combination of its 200-day moving average on the daily chart and prior swing low from November 15-24, 2024 now resistance.
It is possible to have another downtrending day again on Thursday if NQ can break below key support 20,000.
If 20,000 should hold on Thursday we could see choppy sideways consolidation action on Thursday.
A narrow range sideways trading action for NQ on Tuesday. The pattern looks bullish on the shorter time frame, and ready to trend up on Wednesday but on the daily chart NQ looks toppy and ready to trend down on Wednesday.
As such we will look for key price level, which on Wednesday will be at 20,500, bullish above, with the next resistance at 21,000.
Bearish below itwith first support at 20,100
A huge opening gap-up for NQ on Monday followed by a narrow-range sideways pattern as shorts were forced to cover..
With such a huge gap-up open we could see Tuesday as a sideways pattern. The upside target is now at 21,000, as long as NQ remains above 20,000 support.
Now that the tripple withching options expirations is over we can easily see the market starts to trend again, either up or down, depending on where it trades in relation to ket technical price leve.
For NQ that key price level is 20,100. Trading above 20,100 will target a fast move to 21,000 dues to short-covering.
If NQ instead, starts trading baxk below 19,770, we should see a resumption of selling.
Ahead of Trippe-Witching Options Expiration on Friday, NQ traded sideways between 20,100 resistance and 20,750 support
Friday is likely more of the same, more of a choppy sideways pattern if the institutions who sold those options have their ways, which is very likely.
There was a small rally after the FOMC policy announcement that spiked NQ slightly above its key resistance 20,100, likely from investors closing their hedges. However, NQ dropped back and close below 20,100
As long as NQ remains below 20,100 NQ remains bearish.
On Thursday if NQ can break and push higher above 20,100 we could see sharp short-covering rally. The next strong resistance is not until 21,000, that's a 900 points move, which could take 2 to 3 days to get there.
A sideways trading pattern for NQ on Tuesday ahead of the FOMC policy announcement on Wednesday..
With the close in the middle of the trading range, we copuld continue to see NQ trading sideways in side the range on Wednesday
Trading range, 19,200 support and 20,000 resistance.
A slight bullish day for NQ on Monday. The market may have to wait for the FOMC decision on Wednesday before investors makes their big decision. As such, NQ may be stuck between 19,200 support and 20,000-20,100 key resistance.
On the intraday time frame, key inflection price level for NQ will be at 19,800, bullish above it, bearish below it.
NQ has been trading sideways below 20,000 previously key support, now key resistance after the break.
With FOMC meeting this week, NQ may have to wait for the announcement before moving away from the range, 19,200-20,000.However, anything is always possible. A sustained break below 19,200 would trigger another round is selling. The next support is not until 18,500-18,700
First intraday resistance for NQ on Monday is at 19,770, then 20,000-20,100
A down day for NQ on Thursday. The low of the day was just slightly below its recent low, Tuesday low, thus establishing a continuation of a bearish trend.
Friday could be tricky, as anything is possible. The market could rally on profit-taking ahead of the weekend, the market could simply trade sideways, or the market could tank if NQ breaks below Thursday low and trigger another rounds of liquidation.
Key intraday inflection price level for NQ is at Thursday swing lw.
A sustained break could tank NQ down to its next support level, 18,500-18,700.
If NQ remains above Thursday swing hyigh we could see either a sideways trading pattern or a rally as the shorts take profit.
Wednesday was day 2 consolidation day. If the downtrend is still in fast mode Thursday should be a large down day. To do so NQ should break below Monday swing low and tank. Support is still at 18,500-18,700.
Overnight NQ has already showing weakness. Key resistance is still at 20,000. NQ needs to break above 20,000 to trigger a large profit-taking short-covering rally.
NQ traded sideways in a consolidation pattern on Tuesday. Major support is still far lower, between 18,500-18,700.
NQ may need to drop down to that support zone before we could see a multi-day pullback up moves. If so, then NQ should tank again on Wednesday.
Key price level to trigger a multi-day rally is 20,000. NQ would need to trade above and stay above 20,000 to trigger a big counter-trend rally.
A big opening gap-down and trend down day for NQ on Monday. There was a small profit-taking rally at the end of the day.
With NQ in extreme oversold zone on the daily, 60-minute and 5-minute time frame, is there a brief consolidation day coming before tanking again? we just have to watch price levels. The next major support is between 18,500-18,700 price zone.
On the intraday time frame, key inflection price level is at 19,500, bullish above, with the next higher resistance at 19,900-20,000, and continue bearish below it.
Two weeks of relentless selling sparked by President Trump economic policies, particularly the tariff war with the rest of the world has brought NQ down over 11% from its record high, that's over 2,500 NQ points.
Last week low was at strong support, a combination of prior pivot high and its 50-day moving average on the weekly chart. As as result, this week we could see massive 2 to 3 day rally, 1,000 NQ points, to relieve the oversold condition and to re-test broken support - now resistance at 21,000 price level before dropping back down.
To do so it has to stay above 20,000 price level. A sustained break below it is an indication of a more serious problem, and would trigger another round of liquidation selling, targeting the next support level, 18,500.
On the intraday time frame, 20,200 is key inflection price level, bullish above it, bearish below it, with key intraday support at 20,000
A massive sell-off in the financial market on Thursday, including massive selling in the crypto market, and NQ dropping down about 800-points from the high of the day.
With several potentially market-moving reports to be released on Friday, if the impact is negative, we could see a another day of sharp decline on Friday with strong support at 20,000 which could cause a bounce.
After dropping down to major support that has been holding the NQ decline since the beginning of December 2024, the 21,000 price level, NQ traded sideways inside the prior day range, setting up a potential rally or a sell-off day.
Key intraday inflection price level on Thursday is 21,300, bullish above it, with the next resistance at 21,650, and bearish blow it, with the next major support at 20,000..
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NQ traded sideways on Monday following a very intense selling day on Friday. The momentum of the current sell-off seems very strong.
If so, we should see another large sell-off day on Tuesday. with minor support at 21,300 but strong support is at 21,000. However, we should not be surprised is 21,000 support get easily broken.
Key intraday inflection price level is 21,550, bullish above it, bearish below it.
A large down-day in the stock market on Friday with NQ dropping down over 500-points from the morning high. The low of the day is at a significant support level and there should be a bounce on Monday.
If there is NO bounce we would know that the stock market is in trouble. If so the sell-off may continue.
Key price level for NQ on Monday will be at Friday's low, 21,665, bullish above it bearish below it, with strong resistance at 21,900-21,950.
Following a brief sharp drop for NQ in the morning, dropping down to support, NQ slowly rallied back in a very choppy pattern back up to resistance, looking like a bear flag to set up Friday sell-off back to Thursday low.
Key price level to watch on Friday will be at 22,150, bearish below it, an indication NQ is going back down to re-test Thursday low, and bullish above it, implies NQ is going to continue to rally back up to retest Wednesday swing high.
In any case, Fridays tends to be choppy sideways, and the pattern is setting up for a choppy Friday trading..
A very choppy narrow range trading pattern for NQ on Wednesday as it struggled to rally just below its double-top resistance zone. It looks like NQ may need to pullback down before breaking above resistance.
Key inflection price level for NQ on Thursday will be at 22,200, bullish above it and bearish below it. with first support level at 22,085 then 21,900
NQ continued to trade in a very narrow range below key double-top resistance of around 22,400, with key support now at 22,100.
As long as NQ remains above 22,100, a breakout is coming soon, especially more so now that the S&P 500 has broken above its double-top resistance.
Breaking back below 22,100 is an indication NQ will need a pullback before breaking above its double-top. Lower support is at 21,900.
A choppy narrow range up-trending day for NQ on Friday as NQ approaches key resistance, a double-top with its all-time high.
The key question to ask ourselves here is, would NQ pullback before it breakout above double-top swing high before pulling back, or would NQ breakout and then pullback to breakout price level, 22,400. For the answer, we just have to wait and see.
Key intraday price level for NQ on Tuesday would be at 22,170, bullish above it, bearish below it.
A choppy up trending day for NQ on Thursday. On the longer term time frame, daily and weekly, NQ looks ready to breakout to new high, to the 23,000-24,000 price level once it can break above 22,100 key resistance and pushes higher.
On the intraday time frame NQ may need to pullback down to broken resistance, now support at 21,900.
However, a sustained break above 22,100 could trigger a short-covering rally. If so, we could see a large rally even on Friday when the market tends to get choppy sideways.
Higher than expected CPI print on Wednesday tanked the stock market at the open with NQ opening down to 21,550 key support. Buyers quickly came to buy triggering a rally to just below key resistance 11, 900 for NQ
Thursday trading will be interesting as NQ looks set to break above 21,900 resistance. If it does and if it can stay above 21,900 resistance we could see shorts being forced to cover. If so we could see a trending up day, higher resistances are at 22,150 and 22,250.
Financial market continue to be choppy and NQ is no exception.
NQ trading range is now between 21,900 resistance and 21,550 support. However the daily range has dropped down to 100 - 150 points as most market participants are on the sideline waiting for a breakout in either direction,
21,900 key resistance, 21,550 key support.
A very narrow range trading for NQ on Monday. On the daily chart there is really no indication of a trending moves unless NQ can break and push higher above 21,900.
Tuesday may be another choppy narrow range day again as NQ remains inside a trading range between 21,.000 - 22,000
A sideways choppy trading action for NQ on Thursday. Without any unexpected market-moving news on Friday the choppy sideways action is to continue. Another sell-off is likely to occur again on Monday next week.
Strong resistance is at 21,900 to 22,100.
On Wednesday NQ closed at the high of the day just below 21,800 resistance zone. NQ is likely to continue to rally in the morning with resistance at 21,900 - 22,100.
To do so it must break above 21,800 then 21,900. Failure to break above could attract short-sellers.
First strong support is 20,550 and it should not be broken on Thursday without any major unexpected market-moving news..
Selling may have to wait until next week Monday as long as 20,550 holds.
NQ continue to trade sideways inside a 1,000 point trading range between 21,000 support and 22,000 resistance, with 21,550 as inflection price level.
Overnight Google has sold off hard following their earning announcement. NQ is already down during after hours trading. A negative sentiment from Google could tank NQ down to its support 21,000 on Wednesday..
The market probably need more than news from Google to break the 21,000 NQ strong support.
NQ opened with a huge gap-down on Monday but then bounced off double-bottom support 21,100 then rallied back to resistance 21,500, a typical topping price action.
Key intraday price levels for NQ on Tuesday will be at 21,500 resistance and 21,300 support. A sustained break out of the rane could cause a large moves out of the range.
Upper resistance is at 21,900 and lower support is at 21,000-21,100. Price action overnight is looking bearish, an indication that 21,000 very strong support level may get broken to the downside on Tuesday.
Just like last Sunday night, the equity market has crashed again in overnight trading, down to key 21,000 key support level and has bounce a but.
Early Monday morning trading action would b key, and 21,000 would be a crucial support level.
Trading below 21,000 could trigger enough selling pressure to crash NQ down to the next support level, 20,000. It is not difficult to see NQ dropping down to 20,000 if 21,000 key support is violated.
Should there be a rally, resistance is 21,550
A sideways trading action for NQ on Thursday, There is not much setpup for a trending move for Friday unless NQ breaks out of its current trading ranger between 21,300 support and 21,900 resistance.
Key inflection price level is at 21,550, bullish above it, bearish below it
Another uneventful day in the equity market on Wednesday even after the FOMC policy decision release. It was just a sideways trading action.
NQ remained inside a trading range between 21,300 support and 21,650 resistance. Until it can breakout of the range we should continue to see sideways trading action.
NQ is currently in a slightly bullish zone, above 21,300.
A large bounce for NQ on Tuesday as investors bought ahead of the FOMC decision on Wednesdau. After the decision, anything can happen depending on what the Fed policy will be.
The damage to the American AI supremacy has been shattered, and the adjustment to the American Tech prices companies stock price has begun.
FOMC Tuesday
News from China that the Chinese companies, Deepseek) may be over-taking the United States in AI technology triggered massive selloff in US tech companies , causing massive market meltdown.
This might be the beginning of the end of capital inflow into the US and the starts of international capital outflow, which will be devastating for the United States.
For NQ, key price level to watch on Tuesday will be at 21,300, bullish above, bearish below it. It is possible that investors may be waiting for the FOMC policy decision release on Wednesday befor making a big decision. If so we could see NQ rallying back up again.
A slightly bearish trading action for NQ on Friday. Overnight on Sunday night the equity market has sold off very hard with NQ down over 500-points.
Key support for NQ on Monday is at 21,300 and if that does not hold the next key support is 20,900. Should 20,900 is violated we could easily see a flood of selling panic that could drop NQ down to 20,000
A sideways trading action for NQ on Thursday. The pattern is likely to continue on Friday with support levels remaining at 21,800 and 21,900.
long as there is no unexpected market-moving news release before market open on Friday the support level should hold.
Another bullish day for NQ on Wednesday starting with a huge opening gap-up. NQ consolidated sideways in the afternoon.
Key support for NQ on Thursday is at 21,800 to 21,900.
If NQ does not need a deeper pullback before rallying back up again, then 21,800 - 21,900 support should hold. A break implies larger pullback.
A narrow-range up day for NQ on Tuesday. The market continue to remain on the bullish side and should continue to push higher as long as Trump does not say any stupid thing
Key support level for NQ on Wednesday will be at 21,670, with the next critical support at 21,550. As long as 21,550 support is not violated NQ should continue to trend higher.
Trading above 21,900 could trigger massive short-covering rally.
With Trump second day as President of the United States of America, the market could be very volatile as no one knows what Trump is going to do or say.. As such we just need to be nimble.
For NQ key price inflection price level on the darily chart is at 21,300, bullish above it, bear
A slightly bearish consolidation day for NQ on Thursday. It was a very choppy slow grinding down day.
Friday could also be a choppy consolidation day as well with key inflection price level at 21,300, First support is at 21,130 and first resistance at 21,450.
As long as there is no unexpected market-moving news before the open that knocks the market out of balance before the open, the above analysis remains valid.
A huge opening gap-up and trend up on Wednesday. Overnight NQ has continued to rally higher, setting a likely gap-up and trend-up in the morning but reverse at lunch or in the afternoon.
Resistance is at 21,550-21,600.
There is a potentially bullish setup on the daily chart that could trigger a further 700 to 1,000 point rally within a few days, and it could happen ahead of next week Monday Trump inauguration.
Key support is now at 21,300. Bullish above it and bearish below iy.
A bullish reversal day for NQ on Monday, starting with a gap-down open and then then rallied all day closing just below key intraday resistance, 21,000.
On Tuesday, if NQ could open with a gap-up above 21,000, and then able to stay above 21,000 we could see a big short-covering rally, that could propel NQ up to either 21,300 resistance and also higher to 21,600 resistance. Whether or not its needs one day to do it or needs two days, it is difficult to forecast.
Thus key inflection price level for NQ on Tuesday is 21,000, bullish above it, bearish below it.
Overnight, both the stock futures andthe crypo futures points to a bullish day on Tuesday. As long as there is no unexpected market moving new before the open, we should see a bullish Tuesday.
Trade guideline for Thursday is good for Friday
A sideways consolidation type of day for NQ on Wednesday following a large down day on Tuesday. Depending on where it trades in relation to key support, 21,300, we could either see another sideways day or a rally day or a down day.
NQ has several layer of supports, 21,300, then 21,000 and then finally 20,900. NQ would need to clearly break below 20,900 to cause a waterfall decline down to the next lower support, 20,000. Will the crash down to 20,000 happen on Thursday? it is not very likely due to those strong supports.
Staying above 21,000 would keep NQ in a neutral to bullish zone.
A large down day for NQ on Tuesday as the 10-year bond yield continue to spike higher. The yield seems poised to continue higher which is very bearish for the stock market.
As such there is a real possibility the stock market may crash in a big way, with NQ dropping over 1,000 intraday, be on a watch out.
On Thursday key support is at 21,300, a break is going to cause a sharp drop to 221,000 and key resistance at 21,600, a sustained break is likely to cause a sharp rally up to 21,900.
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A sideways intraday trading pattern for NQ on Monday, with opening gap-up above 21,650 resistance and then came back down to re-test it.
On Tuesday we could see trading sideways above 21,650, or if that level is broken to the downside, we could see NQ trading lower to the enxt support, 21,450.
Trading above Monday high could push NQ higher to 21,100 price level as the shorts are forced to cover.
A gap-up open and trend-up day for NQ on Friday. On Monday we could see another trend-up day if NQ can trade above key resistance, 21,550, or trade back down to support, 21,300 if it fails to trade and/or stay above 21,550.
If so we could see a sideways trading pattern oscillating between 21,550 resistance and 21,300 support.
A clear break below 21,300 support could cause a sharp drop, with the next support at 21,000
A sideways trading pattern for NQ on Thursday, with the low at strong support of 21,000. There is another layer of strong support at 20,900. NQ would need to clearly break below 20,900 to tank.
As long as NQ remains above 20,900 we are likely to see more sideways action as sellers and buyers causes the market to swing up and down in unpredictable way.
Tuesday low was at major support on the daily chart, the 50-day moving average. Overnight on Wednesday night NQ has rallied back up, indicating a bullish day on Thursday.
If so, NQ would have to stay above 21,300, key intraday inflection price level for NQ. As long as NQ remains above 21,300 on Thursday NQ would be in a bullish mode, rally target is 21,700.
Bearish below 21,300 with strong support at 20,900-21,000
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