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
