Thursday was a pullback-down day for the stock market. Overnight NQ has rallied over 300-points. As long as nothing major that can change the market sentiment in the morning we should see the market rallying on Friday.
For NQ key inflection price level is at 26,100, bullish above, next resistance is at 26,400, and bearish below 26,100.
NQ traded sideways on Wednesday awaiting the Fed decision on monetary policy and Trump meeting with China's President Xi on trade deal.
Now that's over the market could continue its uptrend.
Key price level for NQ on Thursday will be at 26,050 zone. As long as NQ remains above 26,050 the current uptrend is still strong.
Trading below it implies continual consolidation.
A bullish dai in the equity market as investors expect the FED to cut inetrest rate by 0.25 basis point on Wednesday
The on Thursday Trump and Xi is going to announce some sort of trade agreement, a positive news could catapult the stock market up and up.
As for Wednesday the FOMC policy decision announcement is going to dominate the market
A large gap-up opening for the US equity market on Monday with NQ opening over 300 points above Friday's close.
With the Fed expecting to cut inetrest rate by 0.25 basis point on Wednesday and a trade deal announcement between Trump (US) and Xi (China) on Thursday we could see massive short-covering rally this week, with normal upside target at 26,600, and higher if NQ overshoot to the upside.
Key support for NQ is now at 25,400, bullish above it, and bearish below it.
The equity market traded sideways on Friday . For NQ it opened above prior swing high and then traded and closed above the previous high, 25,355, now became ket support.
NQ has rallied almost 300 points in overnight trading. If the bullishness remains into the Monday open we should see the shorts getting forced to cover, which could lead to short-covering rally with the next upside target at 26,000.
A narrow range choppy upday for NQ on Thursday. The rally has continued into the overnight globex session which is likely to continue into the day on Friday.
Key price level to watch is previous swing high at around 25,395.
A break above is bullish as it is likely to trigger a short-covering activities especially if it can break and stay above it.
Below 25,395 we could see choppy sideways action. Support is at 25,000
NQ sold-off hard in the morning and into early afternoon on Wednesday. Late day profit-taking rally,pust NQ to close above 25,000, key intraday inflection price level, setting up a continual rally in the morning if NQ can stay above 25,000 dduring overnight trading session.
The general mood of the market was bearish on Wednesday with Crypto and precious metals trading down with the stock market.
We shall see what happens on Thursday, 25,000 remains key intraday inflection price level, bullish above it, bearish below it.
A very narrow range day for NQ on Tuesday, stuck between resistance 25,390 and support 24,000.. As long as NQ remains below 25,390 we could see more narrow range day or a sharp drop back down to 24,000 support.
Key intraday inflection price level remains at 25,275, bullish above, bearish below.
What was more exciting on Tuesday wa the takedown of gold and silver, vulnerable to sharp selloff because it was way overbought.
How long and how large the current pullback will be is difficult to say.
Gold 20-ma support on the daily chart is at around 4,000, which provided support on Tuesday overnight globex trading session.
4,000 is now key support for gold.
NQ opened with a gap-up above 25,000 key resistance on Monday. As such it triggered a short-covering rally that too NQ back up to its resent high,25,390.
The market looks bearish in overnight trading, with Bitcoin and other cryptos sellign off hard.. If the weakness continues into the open we could see sharp sell-off in the equity market.
Key price level for NQ is 25,275, bullish above and bearisg below it, with for support at 25,000.
After five days of choppy consolidation NQ looks ready to trend back up again. To do so NQ must break and stay above 25,000 in order to force the shorts to cover and to attract buyers.
Failure to stay above 25,000 is likely to trigger another round of selling with 24,000 as key support.
NQ failed to stay above 25,000 after trading above it soon after the open on Thursday which is bearish setting up for a bearish Friday.
Overnight on Thursday night NQ has sold off hard. Without any major market-moving news in the morning on Friday NQ is set to sell-off. If so the enxt support is at 24,000.
24,000 support may not hold. A break could cascade NQ down to the next support level, 22,300. NQ may not get there on Friday but it is possible.
When everything has sold-off on Thursday night, only gold is bullish.
NQ rallied all day after re-testing the low from Friday sell-off. The rally stopped below key resistance at 25,000.
On Wednesday we could see re-testing of 25,000 resistance. And if it starts to trade above it, short-sellers will have to start to cover, thus triggering a short-covering rally.
Failure to re-break back above 25,000 is bearish, an indication its trying to re-test support. A break of support is likely to trigger a huge decline as the next strong support is at 22,000, that is a 2,000 point drop to support.
Monday was a technical bounce from key support back up to resistance zone, round 25,000.
For Tuesday 25,000 will be key price level, a break above could trigger short-covering rally, but failure to break is an indication NQ is going back down to retest support at around 24,000.
Key resistance is 25,000 and key support is 24,000, with first minor support at 24,700
The stock market crashed on Friday after Trump threatened China with a 100% tariff . It seems over the weekend Trump has capitulated and was forced to say nice things about China in order to avoind Black Monday tomorrow.
For NQ, Friday low as not far above prior swing high now key support, 24,000.. NQ would need to break back above its all-time swing high inorder to negate the current tchnical damage cause by Fridays selloff
Key resistance for NQ on Monday will be at 25,000, bullish above, bearish below it.
With so may traders and investors out of the market, those knocked out of their positions, we could see wild swing on Monday.
The US government will shut down at midnight , October 01 as the Democrat and the Republican disagree of budget, so there is no money to fund government activities.
Normally this type of issues does not affect the financial market by much. However, with the stock market in extreme overbought territory we could see the market selling off as a result.
The equity market has started to sell-off in overnight globex trading session. Without an agreement we could see selling to continue into the open on Wednesday.
For NQ, key price level to watch is 24,800, bullish above and ebarish below it.
Following three consecutive pullback down days, NQ had a positive close on Friday. Overnight NQ has rallied over 100 points which would trigger a bullish-bias day on Monday..
If the rally can continue into the open we it is an indication that the pullback has ended and the uptrend is resuming.
To do so NQ would need to stay above 25,700. Failure to stay above 24,700 is bearish.
Now that the September Fed decision is out of the way the market can continue to rally. However, with the market in extreme overbought condition on the daily time-frame there is always a possibility the market can experience sharp 1 to 3 days pullback before resuming the uptrend.
Until the market violate strong support the uptrend should continue as the financial financial market is well liquefied.
As expected the Fed cut short term interest rate by 25 basis point. Initially the market sold off but then the Fed dovish stance sent stock abck up again.
The stage is now set for the market to continue to rally with increasing momentum as the shorts are forced to cover.
For NQ key support on the daily chart is now at 24,000. The rally should continue above that, with the enxt upside target at 26,000
FOMC decision day on Wednesday.
What the Fed decides and their messages could affect the financial market in a major way if their message is not in line with expectation.
It is very likely the Fed may not want to rock the boat and play safe. A 25 basis point cut and a neutral statement. if so, the stock market is going to continue to rally.
A surprise could cause a sharp selling and a pullback in the stock market.
The FOMC will start their meeting on Tuesday and announce their decision on Wednesday. The market has priced in a 25 basis point cut, bullish for the stock market.
If the Fed should announce a 50 basis point cut instead of 25 basis point, the stock market is likely to explode higher.
The Fed is also expected to cut 2 more times before the end fof 2025 after the September meeting. The stage is now set for a parabolic rise in the stock market as short-sellers cover their short and reverse long for the year end rally,
The stock market continues to rally and it should continue especially with the Fed expected to cut Fed fund rate by at least 25 basis point if not more.
Looks like the stock market is now going into its fast uptrend, into a blow-off top before it collapses because of economic slowdown.
With President Trump's plan to replace hawkish Fed governors with dovish governors by February 2026, we could see market participants front-running those moves, and rally into blow-off top phase as short-sellers turn bullish and FOMO sentiments takes effect.
The Fed Chairman to be replaed by may 2025
A small rally for NQ on Thursday.
Ahead of the long Labour Day weekend, when the market will be closed on Monday, we could expect the market to chop sideways, unless of course the market get an unexpected market moving news.
NQ continued to trade sideways on Wednesday. It is still consolidating inside a bullish-bias zone. Thursday may be the day it breaks out and rally, we shall see.
Key level for NQ to trigger the next trend up is at 23,650 and then pushes higher. A better setup would be for NQ to oen with a big gap-up that would force the shorts to cover.
Key support is 23,450
A big rally for the stock market on Friday as the Fed Powell was very dovish, ready to aggressively cut short term rate in September, perhaps by 50 basis point.
If the rally can continue on Monday/next week, we could see capitulation by the shorts. If so we can get a parabolic rally that could last for several weeks.
For NQ, key price inflection level is at 23,500, bullish above it but less bullish below it.
A sideways price action for NQ on Thursday ahead of the Fed Jackson Hole meeting. The market may continue to trade sideways until next week when the Fed policy may be more clear after the Jackson Hole meeting.
A sharp sell-off for NQ om Wednesday morning down to key support, then found enough dip buyers at support, and rally into the close.
The Fed will have their annual meeting in Jackson Hole on the weekend. There will be some major announcement, including hinting on a large rate cut in September.
The stock market is in very overbought condition on the daily and weekly time-frame, and that could set-up a large pullback into the year end.
Key resistance will be at 23,400, bullish above, bearish below it.
A sideways price action for NQ on Thursday At the end of the day it looks like NQ is going down and may open with a gap-down and then run down to support before bouncing back up again, that is as long as it does not violate support.
Key support for NQ on Friday will be at 23,750 - 23,800, bullish above, bearish below it.
NQ continued to make higher high as liquidity remains in abundance frustrating the bears. The rally should continue with or without a major pullback
On the larger daily and wekly timeframe, key support is now at 23,450, bullish above it ans it continues to squeeze the short.
On the intraday basis, for Thursday, key support is at 23,750 - 23,800.
The recent 2-day pullback down to re-test breakout level was a 400 points missed, an indication that the pullback was very bullish.
The failure to come down all the way to retest the previous swing high of 22,400 is an indication many waiting to buy would missed the boat and those waiting to exit their wrong short trade were not able to get out of their trade.
As such the rally that followed was sharp and could last for a while as investors who missed the entry has to chase the trade higher and those holding short position continue to get squeezed.
The next upside target is 24,500 - 25,000
NQ was down on Tuesday but still trading above key support at 23,100 intraday and still making higher high in a choppy fashion.
It looks like the uptrend has exhaust all its momentum buyers with most investors who are long the market are just holding on to their position as long as the market stays above support.
Choppy price action should continue as long as NQ remains above support, the 20-day moving average on the daily chart, now at 23,000.
The stock market continued to trade sideways in a very narrow range on Tuesday. The ramp-up action overnight did not hold as the market sold off soon after the open. The market seems to want to go into a pull-back-down move.
Key inflection price level for NQ on Wednesday will be at 23,000, bullish above, bearish below it with the first support at 22,850.
President Trump is now in big trouble, embroiled in the Epstein scandal, which could cause a loss in confidence, negative impact on the financial market.
The stock market looks ready for a larger pullback down move. The trigger could be President Trump Epstein scandal that could easily destabilise the financial market.
For NQ, the key intraday price level is at 22,900, bearish below it with the next support at 22,600, a double-bottom support, if broken, could trigegr a sharp sell-off that can easily tank NQ down to the next lower support at 22,200.
Strong support is not until 21,000.
The stock market continue to melt-up, the speed may be accelerating now that Trump massive spending budget has been passed, as such money printing is also going to accelerate, which is positive for the stock market index.
The USD is going to continue to collapse. We saw what happened to the stock market when currency collapse, as people rush to buy real asset just to protect their wealth.
Intraday support for NQ on Monday is at 22,800, bullish above it, bearish below it,
The stock market continue to ment up as the US dollar continues to collapse. Going into the US 4th of July holidays we should continue to see the market continuing to melt-up as more shorts are forced to cover.
For NQ th upside target is between 23,800 to 24,000.We can see NQ spiking up to it before we see a large pullback ddown to re-test breakout level, 22,400
War between Israel and Iran is currently going throu a slowing down phase, giving the market some relief. NQ is now in breakout mode and is likely to accelerate to the upside unless the war heats up again
Key price level for NQ is now at 22,500, breakout mode above it, with first upside target at 24,000, and fast reversal if it breaks back below 22,000
Still choppy sideways price action on Monday. Until it gets out of the current trading range, choppy action is going to continue.
American airstrikes on Iran and Iran's decision to close the Strait of Homuz could cause a huge spikes in crude oil price, which has the potential to cause a massive stock market crash that no one is expecting.
Until the war situation is more clear, we should expect that anything is possible
Still not much happening in the equity market. NQ is still stuck inside a vary narrow trading range, 21,900-22,200. The sideways pattern may continue until it breaks.
Once a break occurs then we can see more interesting price moves.
Not much happened on Tuesday as NQ remain stuck inside a narrow trading range. The pattern should continue unless the war between Israel and Iran spin out of control.
Still not much happening in the stock market on Monday. The pattern should continue until we get a real breakout of the current trading range 21,500-22,100
Iran-Israel war is going to dominate.
Iran-Israel war intensifies, as such, anything is possible. Gold and crude oil will be bullish while equities will be bearish.
Another narrow-range sideways trading action for the stock market on Thursday. However, overnight on Thursday night Istrael has bombed Iran znd that has started the sell-off in the stock market.
NQ is down over 400-points so far, The severity of the decline will depends on what Iran will do in retaliation. As such, anything is possible. With tis type of event, supports no matter how strong could easily be broken.
Supports for NQ are 21,500, 21,000, 20,500 and 20,000
Another choppy sideways day for NQ on Wednesday. Until it gets out of the range the choppy pattern is going to continue.
Inflection price level for NQ on Thursday will be at 21,900, support at 21,800 and resistance at 22,000.
The stock market has been chopping slowly upward for over two weeks and it seems exhausted and ready to drop sharply downward as there is not more willing buyer and no more willing short-covering.
Key intraday price level to watch on Wednesday is at 10,900, still bullish above it, but ready to sell-off below it.
Lower supports are 20,800 thn 20,570
Monday was another narrow-range sideways day. The chop continues until it gets out of the current trading range, with key resistance at 21,900.
A very narrow trading range for NQ on Friday as there wer no more buyers and sellers are not coming in yet until it breaks below certain level.
The market can continue to trade sideways until a catalyst comes and know the market off equilibrium price zone. Untiil then the market can just continue to trade sideways
Intraday price level to watch are 21,900 resistance and 21,570 support.
NQ pulled-back down on Thursday briefly breaking below support at 21,570, a slight overshooting down below support.
With Friday's tendency to trade sideways, without any market-moving news, we should see a sideways trading action for NQ, with support at 21,570 and resistance at21,750 to 21,900.
A very narrow trading range for NQ on Wednesday, stuck between 21,650 support and 21,800 resistance. Until there is some market-moving news NQ may continue to trade sideways in a very narrow range.
A very slow and very choppy rally for NQ on Monday as some short sellers were forced to cover. NQ remains inside a choppy trading range between 21,000 support and 21,550 resistance.
NQ has the potential to rocket up big if it can break above and stay above 21,550 resistance and force more shorts to cover.
Key intraday price level for NQ on Monday will be at 21,550 resistance, bullish above it, and 21,450 support, bearish below it, but its still within a choppy sideways trading range.
Friday was a sideways trading pattern, starting with a sharp decline in the morning, down to just above key support, 21,000, then sharp rally in the afternoon back to key resistance, 21,450.
We could see a larger move on Monday, key inflection price level will be at 21,350, bullish aboveit, bearish below it.
Key breakout resistance is at 21,450, key breakdown support is at 21,000. A sustained break below 21,000 ccould quickly tank NQ down to 20,500..
NQ would need a market-moving news to break out of the 21,000-21,570 trading range
Attempted breakout above trading range resistance, 21,550 failed to trigger short-covering as NQ sold off and dropped back down inside the range, a bearish sign, likely indicating the top for the current rally might be in.
Friday is not usually a breakout day, as such we could expect NQ to stay inside the range, 21,000 to 21,550
Intraday inflection price level for NQ on Friday will be at 21,450, with 21,550 resistance and 21,200 support
The stock market traded sideways on Wednesday consolidating the huge rally on Tuesday.
The stock market has rallied sharply in overnight trading after the court made a decision that Trump tariff is not legal and must be stopped immediately, as Trump does not have to authority to impose tariff.
In addition, The Fed has started to accelerate pure money printing as there are very few buyer of US new debt issuance.
A combination of massive money printing and tariff halt triggers massive short-covering rally .
For NQ it has traded over 400 points in overnight trading. If it continues into the open we could easily see NQ rallying over 1,000 points as short get forced to cover.
Key Resistance for NQ will be at double-top, 22,500.
A gap-uup and trend up day for NQ on Tuesday as the shorts were forced to cover.
With NQ high nearing key resistance level around 21,570, and an overbought condition on the 60-minute chart, we could see NQ trading sideways on Wednesday, setting up another trend up day on Thursday if it can push above 21,570.
First support for NQ on Wednesday is at 21,350
A down day for NQ on Friday, closing below key support level at 21,000. However, NQ has rallied back above 21,00 in globex trading session if it continues into the open on Tuesday will be bullish.
Key resistance to break for NQ on Tuesday wil be at 21,100, a break could trigger buying to push it up to 21,400.
A break above 21,400 could trigger short-covering to cause a rally to the next resistance, 21,550. NQ would need to break below 21,000 to trigger a sell-off
The US market will be closed on Monday for Memorial Day. Will reopen on Tuesday
Thursday was another day of sideways consolidation above broken-resistance, now support, a zone between 21,500 to 21,000.
As long as 21,500 support is not broken, the current pullback in this current up-trend remains bullish, setting up another explosive rally that is likely to break above its recent all-time high 22,400.
As Friday is usually a sideways consolidation day, the breakout to new high or breakdown below support is not very likely as long as there is no major unexpected market-moving news such as anothe massive spike in interest rate.
Intraday support on Friday is 21,000, resistances are 21,300 then 21,500
Stocks and bond sold-off, bitcoin and gold rally following a failed 20-year bond auction. The 10-year treasury bond yield spiked. Without the Fed intervention the yield could spike to a level that can cause financial meltdown.
The Fed would be forced to come in to buy.
Key support for NQ on Thursday will be at 21,000. If that support does not hold we could see massive selling as foreign investores flee the US market.
A sideways choppy day for NQ on Tuesday. NQ is really struggling to rally above 21,550 resistance and is now looking likely to pullback down to lower level before attempting to break above 21,550.
Supports are 21,300, 21,200 and 21,00.
It is a choppy zone between 21,000 to 21,550.
The stock market opened with a huge gap-down but buy programs likely from the Trump administration team pushed the stock market upward but again stopped at 21,550 resistance for NQ, a major resistance going forward.
Buy program is likely to continue for a while. For NQ key resistance is now at 21,550, a break could force more short-sellers to cover, which is precisely the plan as they cannot afford to let Moody's downgrade to cause global investors to dump US assets.
Key support is at 21,000. If NQ could trade sideways above 21,000 in the next 1 to 2 days we could see other buyers coming in and cause a break above 21,550 and catapult NQ up to 22,000 area.
Another choppy sideways market action on Thursday. Friday could be the same. These sideways market action is a setup for big moves, up or down, likely not until next week as Friday tends to be choppy sideways.
Key intraday support for NQ on Friday will be at 21,350, a break could trigger some selling, with first support at 21,100 then lower support 21,000.
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.
