NQ Guideline For Wednesday

NQ trend down in the morning on Tuesday then reversed back up in the afternoon retracing some of the morning decline. However, the close was still below resistance, now at 15,020, Wednesday line-in-the-sand.

15,020 will be a very important price level for NQ on Wednesday. If NQ is not able to break above it and stay above it on Wednesday, the longer-term algos may starts their longs and reverse shorts or forced to reverse short, then we are going to see a sharp and large sell-off, with the next support at 14,670

Bullish above 15,020, with first  upside target at 15,120.

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NQ Guideline For Tuesday

NQ trend down sharply in the morning on Monday only to then reversed sharply before lunch, closing at the high of the day.

The rally was very choppy, clearly manipulated by the Fed, and no genuine buying. The upside momentum on the daily time frame is clearly slowing down. It is now just a matter of time when the stock market is going to tank and tank and there is not much the Fed can do about it. For now, we tends to get sharp sell-off in the morning followed by choppy rally. 

Key support on Tuesday will be at 15,070. Any pullback that stopped at or above 15,070 will get bought. Breaking below 15,070 will be bearish.

If NQ could break above 15,170, and triggers short-covering, we can see NQ spiking up to 15,200-15,300

NQ Guideline for Monday

A very narrow range choppy price pattern for NQ on Friday. It could be setting out for a small breakout to the upside on Monday. However, it may not be a trending day. 

If NQ does break to the upside that starts to run over trailing stop-losses, is likely to trigger a rally that is followed by reversal maybe in the afternoon after all the shorts have covered. 

Having said that, we should always watch out for a possible trending up day if NQ can break above the recent swing high of about 16,160 and then stay above it., there is always some chance that a breakout could trigger trending up day. 

Key support for NQ on Monday will be at 15,060, key resistance at 15,160. A sustained breakout of the range could trigger trending move out, with possibility of a false-breakout.

NQ Guideline For Friday

On Thursday NQ opened and dropped down to support very quickly, the 20-day moving average on the daily chart, 14,960, and then bounced and reversed, rallying all day into the close.

NQ is now firmly above key intra-day support, at 15,030 for Friday. As long as there is no unexpected market moving new on Friday, NQ should have a bullish bias, with key support at 15,030.

NQ Guideline For Thursday

Recent market actions, first, gap-up open continues to be sold, and second, a wide range morning price actions continues to be followed by choppy and narrow range trading action after lunch and into the close.

On NQ daily chart, NQ is still trading above its 20-day moving average, now at 14,050, but it is now not so far away above it. A sustained break below it is going to trigger a large trending move down. 20-dma is a strong support zone, thus, NQ would need to clearly break and stay below it to trigger a selloff.

Intra-day inflection price level is at 15,020 bullish above with first resistance at 15,080, bearish below it, first support at 14,960

NQ Guideline for Wednesday

I have been saying that NQ rally on the daily time-frame has been losing momentum. On Tuesday NQ finally had a pullback down move. 

However, since its still trading above its key 20-ma daily, the bigger players are still in buy mode. NQ needs to break below 20-ma daily to trigger a big sell-off. Keep an eye on the 20-ma daily, now at 14,940

For Wednesday, key inflection price level for NQ will be at 15,040, first resistance at 15,100, first support at 14,940

NQ Guideline For Tuesday

A very narrow range day on Monday. There is no more momentum left in the current uptrend, as evryone who want to buy has bought.

There was also no sellers, simply because Q is still trading above its 20-dma on the daily chart. This choppy narrow range pattern of treading is going to continue as long as NQ remains above its 20-dma on the daily chart, now at 14930.

Key inflection price level for NQ on Tuesday will again be at 15,100, bullish above, bearish below it. 

NQ Guideline For Monday

A narrow-range choppy day for NQ on Friday. With inflation expectation getting more mainstream which is beginning to forced the Fed into reducing their QE level, and the government running out of money, the market is starting to top, many may be forced to liquidate their stocks holding to pay their bills, we could start to see market selling off.

Key price level for NQ will be its 20-dma on the daily chart, 14,920. A break is likely to trigger heavy selling. Staying above it would imply more chops and more narrow range days.

For Monday key inflection price level will be at 15,100, bullish above it, bearish below it, with key support at 15,040, second support is at 14,920, 20-dma on the daily chart., should that level get violated, the next lower support is not until 14,450, its 50-dma on the daily chart.

NQ Guideline for Friday

A very choppy narrow range up-trending day for NQ on Thursday ahead of the all important employment report due to be released before the open in the morning on Friday.

With the bull market still in-charge, any good or bad employment reports should be interpreted as bullish for the market, The chop soon after the release is to be expected, but by the opening bell, we should know where the market trades in relations to their Thursday closing price.

For NQ key inflection price level on Friday will be at 15,150. If NQ should open and able to stay above 15,150 on Friday we should see a rally as some shorts may decide to cover. Trading below 15,150 could be bearish, with key support at 15,080, then 14,990. Should 14,990 be clearly violated we could see sharp and large sell-off.

NQ Guideline For Thursday

Another choppy narrow range day for NQ on Wednesday with a slight bullish bias. The momentum for the current rally is dead, and really struggling to go up. There is hardly any more buyers left as everyone has bought and now almost everyone is long the market.

Without much buyer and without sellers, the market continue to chop around in a choppy narrow range action. Key support for NQ remains at its 20-day moving average on the daily chart, now at 14,880. As long as NQ can stay above 14,880, NQ would continue to have a slight bullish bias, any decline continues to get bought.

For Thursday, key intraday inflection price level for NQ will be at 15,080, with first resistance at 15,130 double-top, and slightly bearish below it with the first support at 15,040, then 14,980.