Monday, May 19, 2025
NQ Guideline For Monday
NQ traded sideways in a choppy narrow range trading action which is normal for Friday.
After the close on Friday Moody downgraded the US debt rating. We can see in overnight trading on Sunday night the equity market has sold off hard, down over 350 points, and if selling continues into Monday open we could see massive selling.
Key support for NQ on Monday will be at 21,000, a strong support level that could cause a bounce, however, if breached could setup a fast drop down to 20,500 level.