Guideline For Tuesday

NQ opened with a gap-up above key inflection price level 4025 on Monday but failed to trigger a rally, and instead, NQ promptly reverses and sold-off in the morning, dropping down to 3995 support before pulling back up to resistance, and close right in the middle of the range between 3995 support and 4025 resistance.

NQ is set to make a potentially large trending move on Tuesday, either up or down, depending on where it trades in relation to key support and resistance.

Key support for NQ on Tuesday is 3995, key resistance is 4025.

-- Trading above 4025 could trigger algo buy programs that could propel NQ up to 4050 and  4080.

-- Breaking below 3995 is bearish and could trigger algo sell programs that could tank NQ back down to last week Thursday swing low.

Guideline For Monday

Volatility is currently back, at least until last week Friday, VIX level remained elevated, indicating the market is in a larger swing mode, with NQ swinging fast and furious.

Gold and crude oil continued to tank, an indication that global credit contraction is intensifying, and could, at some point, get out of control and crash the stock market.

On Friday, NQ opened with a gap-up above key resistance which trigger massive momentum algo buy programs that rocketed NQ up to the next resistance zone 4025 before trading sideways into the close.

Key price level for NQ going into Monday trading is 4025.

-- A re-break back above 4025 could trigger another round of algo buying programs, next resistance is around 4060 - 4070.

-- Trading below 4025 implies NQ is in pullback down mode, and as long as it does not violate key support 3990 - 4000, NQ should resume its uptrend that started on Thursday.

-- Breaking back below 3990 could trigger momentum algo sell programs that can tank NQ back down to re-test Thursday swing low. 

Guideline For Friday

On Thursday a strong sell-off in the morning was followed by a strong rally in the afternoon as buyers pushed NQ into higher high above morning high before pulling back down into the close. 

For Friday, as long as pullback down move that started late day on Thursday does not continue down in the morning on Friday and violate key support, NQ should continue to  rally. However, in order for the rally to gain momentum, it has to clearly break above 4090-4095 key resistance and trigger momentum algo buy programs.

-- A break above 4095 should propel the rally leg up to 4025 resistance.

-- Breaking back below 3965 could re-test Thursday's swing low.

Guideline For Thursday

NQ opened with a  gap-down and then trend-down all day with a small profit-taking rally near the close. It was a very wide-range down day for NQ on Wednesday. 

Whether or not we will get another large down day on Thursday really depends on where NQ trades in relation to it key support level.

Key resistance is at 3995, key support level for NQ on Thursday will be 3965.

-- Breaking clear above 3995 could trigger short-covering rally with next resistance at 4025.

-- Below 3995 implies a re-test of Wednesday swing low 3965.

-- A clear and sustained break below 3965 could trigger another round of algo sell programs, next support is at 3910.

Guideline For Wednesday

A gap-up open and an attempted breakout above resistance soon after the open was overwhelmed by sellers that tank NQ down through gap-close before finding support at 4025 key support.

NQ then quickly reversed back up during the normal morning reversal time zone, quickly breaking out above 4060 key resistance to take out stoplosses, but once most of the shorts had covered, sellers came back in to sell NQ back down to near the early morning low before bouncing back up to re-test 4060 resistance nearing the close.

Key price level for NQ on Wednesday is still 4060.

-- A re-break back up above 4060, if it is able to stay above 4060, could this time trigger real buying that can sustained an uptrend and not just short-covering rally which may not last.

-- Breaking below 4025 could trigger a cascade of algo sell programs that could easily tank NQ down to retest the recent swing low, 4000 then 3980.

-- Should 3980 strong support not hold, it is anyone's guess where NQ would find the next support.

Guideline For Tuesday

NQ opened with a very large gap-down to support (4000) on Monday then promptly rallied, trapping shorts who covered in panic that help NQ rocketed up to close the gap very quickly before pulling back down and chop around inside a narrow trading range between 4025 and 4050, setting up a potential fast move -- upward above 4050, or fast move down on a break below 4025.

Resistance above 4050 is 4075 and 4100

Support below 4025 is 4000 then 3980. Should 3980 clearly get broken, NQ could go into a free-fall.

Guideline For Monday

After trading sideways in the morning on Friday the shorts finally covered in the afternoon triggering a short-covering rally until the close, just below 4060 key resistance for Monday.

On a larger time frame, NQ is still stuck inside a choppy trading range on the daily chart, between 4000 support and 4100 resistance. NQ would need to clearly break below 4000 in order to trigger a multidays trending down move to the next major support between 3700 - 3725.  Staying above 4000 is an indication NQ is continuing to chop around between support and resistance.

On the short-term time-frame, the 5-minute chart, key support lies at around 4025 - 4030 on Monday.

-- Above 4025 in the morning on Monday is an indication that NQ is still in an uptrend, with the next resistance at 4060. A clear break above 4060 could trigger momentum algo buy programs, next resistance is at 4090 and 4100.

 -- A sustained break below 4025 implies NQ is going back down to the recent low. Supports are 4000 and 3980.

Guideline for Friday

On Thursday, the threat of Russia's Asset Freeze sent the European and US market reeling, with the Dow dropping down just over 260 point.

NQ opened just below key support 4075 and continued tanking without any pullback, caught many traders off guard. The selloff continued without pausing as it breaks support after support, tanking NQ all the way down to just below prior swing low established on September 16, down to 4000 whole number support before consolidating Whether or not 4000 support holds and can sent NQ back up again, only time will tell.

Key price level for NQ on Friday is 4000.

-- Trading below 4000 could trigger another round of momentum algo, next support is prior swing high on the daily chart, a strong support zone around 3080-3090, if this support zone does not hold NQ could go into a crash mode with the next support is not until 3910.

-- Trading above 4000 implies NQ is either going into a consolidation mode of rally back up. NQ needs to clearly break above 4020 to trigger a short-covering rally. If so resistances are 4035 then 4060

Guideline For Thursday

The first morning trend on Wednesday tried to break-down below support but failed to break and stay below, then reversed back up, running over trapped shorts, easily broken above resistances, trend all day and close near the day high, a bullish momentum into the close, setting up a potential opening gap-up int he morning.

Key price level for NQ on Thursday morning is 4075.

-- Trading above 4075 is an indication the uptrend that started on Wednesday is still in progress, next resistance is 4100, then 4113.

-- Trading below 4075 implies NQ is going into a consolidation or has reversed back down again, first support is 4060. If 4060 support does not hold, NQ is likely to test 4035 support again.

Guideline For Wednesday

A narrow-range sideways consolidation day for NQ on Tuesday following a large trending-down day on Monday, a setup for a strong trending day, likely on Wednesday, the direction would depends on where it trades in relation to key support/resistance levels.

Key price level for NQ on Wednesday is 4035 - support, 4060 resistance.

-- Trading below 4035 is likely to trigger another round of momentum algo sell programs. If so the next support is 4005 double-bottom support, if that does not hold then the next support zone is 3980-3990 prior swing high.

-- Trading above 4035 implies more consolidation with resistance at 4060. Trading above 4060 could trigger momentum algo buy programs. If so, the next resistance is 4075-4080 prior swing low.