NQ Guideline For Thursday

On Wednesday with NQ trading above 4400 key price inflection level, indicating NQ was in a bullish mode, NQ spent the whole day rallying in a choppy fashion toward another resistance level, closing just below resistance 4425-4430 area, setting a stage for either a pullback-down to 4370-4380 support or, breaking above 4430 resistance, rallying up to 4460 or 4480 resistance level.

NQ Guideline For Wednesday

Sell programs triggered soon after the open tank NQ quickly down to strong support 4370 area before spending the rest of the day rallying back up, in a choppy fashion towards 4400 resistance which wil be key price level for Wednesday.

Failure to stay above 4400 on Wednesday is likely to trigger another round of sell programs, first target down is a re-test of 4370 support.

Trading above 4400 could trigger a move back up towards 4425-4430 resistance.

NQ Guideline For Tuesday

As usual, the Fed buy programs triggered right at the open designed to run-over stop-losses in order to cause the shorts to panic and cover, pushed NQ up through key resistance 4430, but it failed to trigger enough buying to keep NQ above broken resistance turned support.

Short-sellers overwhelmed the buyer and NQ began to sell-off starting about one hour after the open, after most the shorts had covered.

Unless NQ can break-back up above 4430, NQ is likely to continue down on Tuesday, next support is 4370-4380 area. 

If that support does not hold, we may likely see the sell-off to continue further down to the next support level of 4350

Here is global QE vs S&P 500

NQ Guideline For Monday

Last Friday was the third up-days in a row for NQ, heading towards a strong resistance zone at 4425-4430 area.Failure to clearly break above could trigger some short-selling and profit-taking that could push NQ back down towards 4380 key support area.

A clear break above 4425-4430 area is an indication NQ is heading towards prior swing high that was established at the beginning of March 2015

To keep the strong uptrend alive, any morning pullback on Monday should stay above 4390 area. Breaking below implies NQ is in a larger pullback mode down to 4480 key support or lower.
  
S&P 500 Snapshot: Up 1.70% last Week

NQ Guideline For Friday

The Fed buy programs soon after the open on Thursday, designed to break above 4380 resistance in order to trigger a short-covering rally was repelled, pushing NQ back down below 4380.Only a late day rally managed to clearly break above 4380 resistance, and closed near 4400 whole number resistance.

Key price levels for NQ on Friday will be 4370 support and 4400 resistance.

-- NQ would need to stay above 4370 support to remains on the bullish side. However, NQ would need to clearly break above 4400 to trigger another rounds of buy programs.

-- Below 4400 is an indication NQ is going to consolidate and trades sideways. Only a clear break below 4370 would turn NQ into a bearish mode.  Lower supports are 4350 then 4330.

10-Year Note Yield

A log-scale snapshot of the 10-year yield offers a more accurate view of the relative change over time. Here is a long look since 1965, starting well before the 1973 Oil Embargo that triggered the era of "stagflation" (economic stagnation with inflation). I've drawn a trendline (the red one) connecting the interim highs following those stagflationary years. The red line starts with the 1987 closing high on the Friday before the notorious Black Monday market crash. The S&P 500 fell 5.16% that Friday and 20.47% on Black Monday.

NQ Guideline For Thursday

NQ opened above 4330 key support on Wednesday which kept NQ on a bullish side. Buy programs likely triggered by the Fed algos pushed NQ towards resistance, but profit-taking and short-selling held NQ below key resistance of 4380.

NQ would need to break above 4380 resistance soon to keep NQ on the bullsh side, as failure to break above 4380 is likely to attract enough short-sellers to tank NQ back down.

NQ Guideline For Wednesday

On Tuesday NQ rallied towards 4380 resistance area but profit-takers and short-sellers sold aggressively just below resistance, tanking NQ back down to just above 4330 support. 

The trend direction for NQ on Wednesday will depends on where it trades in relation to key support, 4330.

-- As long as NQ can stay above 4330, it may have a chance to rally back up to 4380 resistance area.

-- Breaking below 4330 will turn NQ bearish, an indication NQ may want to go back down to test  4280 swing low. If so, any bounce is to be sold.

Crude Oil continued to rally

 

NQ Guideline For Tuesday

A negative reaction to horrible employment number last week Friday might have scared the Fed enough to compel the fed to intervene aggressively on Monday as they triggered one of the biggest and relentless buy programs designed to trigger panic buying by the short-sellers.

As a consequence the stock market opened with a gap-down but immediately rallied up all day and into the close with a small profit-taking decline near the close.

Whether or not the rally will get sold on Tuesday will depends on what the market thinks the next Fed action is going to be. Already Goldman Sach is calling for the Fed to delay raising their interest rates. If so, the market should continue to rally on Tuesday. If not, the market is likely to sell-off.

Key price level for NQ on Tuesday will be 4350 resistance.

-- If NQ can trade above 4350 on Tuesday short-covering should continue.

-- Failure to clearly break above 4350 could cause NQ to pullback down to key support  4320-4330 area. 

-- Clearly breaking below 4320 could attract major algo sell programs.

Gold is currently in a bullish Inverse Head & Shoulder pattern on the daily chart

NQ Guideline For Friday

NQ traded sideways in a very narrow range on Thursday, settign up for a trend move up or down depending on the direction of the break. because Friday is usually a sideways consolidation day, it is also possible for NQ to remail inside the 4300 - 4330 trading range.

Key price level for NQ on Friday will be 4300 support and 4330 resistance. Any break out of the range dan trigger a trending move out of the range. A false breakout however could trigger a fast reversal.

NQ Guideline For Thursday

On Wednesday NQ opened below 4330 support which triggered massive algo sell programs that tanked NQ down recent swing low before trading sideways the rest of the day. Late day profit-taking rally push NQ back up toward 4330 broken support-now resistance.

On Thursday 4330 will remains as key price level to watch.

-- Failure to break-back above 4330 could attract algo sell programs that can tank NQ back down to re-test 4270-4280 swing low.

-- Breaking above 4330 could trigger shot-covering that can send NQ back up to re-test recent high, 4380, but there are several resistance levels, 4340, and 4350 that can halt the rally.