Trading Guideline For Friday

A slight bullish day for the equity market on Thursday with NQ making another higher -high before trading sideways.

Overnight, the market has been selling off, with crude oil ralling, likely indicating that once President Trump returns from China, he's going to start bombing again. As such the selling in the equity market is likely to continue into the trading day on Friday.

Major NQ supports are very far away down, but the first minor support is at 29,200 then 29,000.

NQ with overnight globex trading data versus crude oil, WTI

Crude oil WTI versus gold

NQ Guideline For Tuesday

On the longer term time-frma, NQ is still in bullish breakout mode.

While NQ is in breakout trending mode, and in deep overbought zone on the daily and 60 minute chart, on the 5-minute time-frame, at the end of Monday trading NQ looks ready to pullback down.

Key intraday inflection price zone for NQ on Tuesday will be at 29,390, bullish above it, bearish below it.

Fir support is at 29,300 then then 289,200 and if that breaks, then the next lower support is 28,940

Market Guideline For Monday

With several major equity indices either approaching either overbought zone on the weekly chart and the Dow approaching double-top resistance we could see the market rally stops for a pullback, especially so if Crude Oil price starts to rally, which it is now showing that the rally going to continue.