NQ Guideline For Tuesday

The equity market was closed on Monday. When the market closed on Friday, there was a short-squeezed at the end of the day.

With NQ now in overbought territory on the intraday 5-minute chart at the close on Friday, it is possible we could see a profit-taking pullabck selling on Tuesday morning. As long as profit-taking selling does not break below key support, which on Tuesday will be at 13,740-13,750 zone, NQ should rally back up.

Should NQ clearly break below 13,730, we could see heavy selling, with supports at 13,600-13,650.

NQ Guideline For Friday

NQ traded sideways on Thursday between 13,620 support and 13,740 resistance, 

On Friday, unless there is a market moving news released before the open, we could see NQ remaining within the range between 13,620 support and 13,740 resistance. It may also be possible for NQ to trade outside the range, and then reverse back in.  

NQ would need to clearly trade outside the range, and remains outside the range to trigger a trending moves out of the range. 

If so, a breakout above 13,740 could move up to the nest upside target of 13,840. A break below 13620 will target a move down to 13,500-13,520 support zone

NQ Guideline for Thursday

NQ opened with a gap-up on Wednesday then large sell program hit the market, tanking NQ hard, breaking below key intra-day support, which caused more selling. 

After selling stopped, NQ then reversed and spent most of the day rallying back up into the middle of the range, setting up either 

1). A rally to higher high above Wednesday swing high, if it trades above key line-in-the-sand on Thursday, above 13,660, or

2) Drop back down to retest Wednesday swing low on Thursday if NQ should trade below key line-in-the-sand, 13,660. Should Wednesday low gets broken, we could potentially see a large liquidation decline.

NQ Guideline For Wednesday

A narrow range sideways trading pattern for NQ on Tuesday, with a slightly bullish pattern. Key line-in-the-sand for NQ on Wednesday wil be at 13,660. Above 13,660 NQ would continue to remains in a bullish mode.

Should it drop below 13,660 and remains below it, we could see a sharp selling, with support at 13,550-13,600

NQ Guideline For Tuesday

NQ traded sideways above priuor swing high on Monday. Unless, NW can break back below 13,600, the shorts may starts to cover. If so we could see a large trending move to the upside.

A break back below 13,600 could start to run-over trailing stoplosses for the longs, thus could trigger heavy selling.

On the intraday 5-min chart, key line-in-the-sand for Tuesday will be at 13,640, bullish above it. However, overbought conditions could still cause a profit-taking pb down, but general trend will remains bullish.

NQ Guideline For Monday

A sideways type of day for NQ on Friday, with pullback decline i9n the morning followed by a rally, then another pullback down move in the afternoon.With a close right at prior swing high in January, NQ could either trend up all day on Monday if the shorts decides to cover, or breakout above prior swing high and then reverse if profit-taking gets too much.

As such, a good line-in-the-sand to for Monday trading is January swing high at around  13,600. If NQ can breakout above it and then stay above it, we could see an all day short-covering with a realistic next upside target at 13,750-13,800, but it can go higher.

Breaking back below 13,600 after trading above it can trigger a sharp and relentless reversal back down as trailing stop-losses get run over..

NQ Guideline For Friday

On Thursday NQ opened with a gap-up, thus setting up a bullish day. After a brief choppy pullback down moves in the morning, NQ resume its rally, trading above Wednesday swing high. The end of day rally was pushing into overbought zone, setting up a rally day on Friday.

However, to do so, with the end of day rally pushing into overbought zone, NQ may have to pullback down first before rallying, unless of course NQ would break above the high from January 27th, and triggers massive short-covering, overwhelming selling pressure.

Key support on Friday will be at 13,500

NQ Guideline For Thursday

On Wednesday NQ opened with a gap-up and then reversed down immediately, and trend down all day with a close at the low of the day, at key support level.

On Thursday, key support level would be at Wednesday swing low, 13,380. Opening and trading below it could cause a large decline, with the next support at 13,000-13,040, and if that support breaks, the next support below that is 13,200

Above 13,380, we could see another higher high above Wednesday swing high.

NQ Guideline For Wednesday

Another breakout day for NQ on Tuesday. From the low on January 29, it has now rallied 5-waves up. It can still continue higher, until wave 5 ends. Many wave 5 rally ends with a gap-up then reverse back down, such as the price action on January 25.

Key line-in-the-sand for NQ on Monday morning will be at 13,480, bullish above it with 13,600 as possible resistance.

Bearish below it with 13,300 as possible target down.

NQ Guideline For Tuesday

On Monday NQ opened with a huge gap-up above  key line-in-the-sand. After a quick pullback down to support, it then rallied all morning and into lunch before consolidating the huge morning rally, spending the rest of the day trading sideways..

NQ is now in between resistance at 13,280, and support at 13,100. It may trade inside the range for a while before breaking out of the 13,100-13,280 trading range.

At the end of the day on Monday NQ looks set to trend back up again. However, it may need to pullback down to 13,100 support before rallying back up again.

There is a good chance that 13,100 support may not hold on Tuesday. If so, we can see a resumption of a sharp downtrend. If support hold, we could see another rally day on Tuesday.