NQ Guideline For Monday

NQ trend down all day on Friday with several pullback along the way down. It was a very large down day with NQ dropping down to oversold zone on the 5-minute chart at the end of the day..

With NQ bouncing off from the oversold low at the end of the day, it is possible that NQ could continue its bounce in the morning before resuming the downtrend, that is, as long as the pullback bounce does not break back above key inflection price level, which on Monday will be at 13,000-13,050 zone.

Breaking back above 13,050 is an indication that NQ is likely to continue to rally up to 13,175-13,250 zone.

On the other hand, if NQ should drop below 12,800 we could see massive liquidation decline, with the next downside support at 12,390 then 12,000.

NQ Guideline For Friday

After trading sideways in the morning, NQ rallied very strongly from short-covering, but dropped sharply at the end of the day due to bad earning reports from several tech companies such as Amazon and Apple.

Where the market open on Friday is key, at the close 13,250 was support, which will be key line-in-the-sand on Friday.

Will NQ sell-off tomorrow on Friday ahead of the FOMC meeting next week? We just have to wait. Resistance is 13,500 support is 13,000.

NQ Guideline For Thursday

Following  a large down trending day on Wednesday NQ traded sideways, consolidating the huge down trending day. It was an inside day.

Consolidation lasted one to three days before the trend resumes. With Wednesday as consolidation day one, we could see either another day of consolidation or resumption of the downtrend.

Key intraday support-resistance price level for NQ on Thursday will again be at 13,100, bullish above with first resistance at 13,250 bearish below it with first support at 12,950.

NQ Guideline For Wednesday

After breaking below support on Friday and then consolidation on Monday, after just one consolidation day NQ downtrend resumed on Tuesday. A large down day with a clear break below the February-March swing low,closing below the broken support.

Key price level for NQ on Wednesday will be at Tuesday consolidation low, 13,100, and it will serve as key line-in-the-sand rt/resistance price level..

If NQ should pullback up to 13,100 on Wednesday, there would be a lot of algos waiting to sell at  or below 13,100. However, if NQ should break back above 13,100, any pullback to it should be bought. 

NQ Guideline For Tuesday

An intraday reversal day for NQ on Monday,. After making a new low below Friday low, NQ was finally able to rally, but in a very choppy manner, indicating it was more profit-taking and some short-covering.

Key price level for NQ on Tuesday will be at 13,500, bullish above it with resistance 13,780, and bearish below it with the first support at friday low, 13,250  

The FOMC meeting next week will be very important for the future market direction. If the Fed starts QT we can see the market will sell-off hard. No QT implies the market will rally.

NQ Guideline For Monday

NQ has been in free fall for the last two trading sessions since breaking below key support  level of 14,275.

With no strong support until 13,000 NQ could easily tank down to 13,000 on Monday, or it may paused and consolidate the big drop for a day before tanking and crashing down below 13,000.

NQ would need to trade back above 13,775 to trigger some short-covering rally.

Key intraday line-in-the-sand for NQ on Monday will be at 13,500, bullish above it with first resistance at 13,775, and bearish below it, with first support at 13,000.

NQ Guideline for Friday

On Thursday, NQ opened and quickly rallied up to key resistance zone 14,250-14,300, then reversed back down and trend down all day, down towards key support, 13,780, and broke below it, and also closed below that support level.

Since Friday tends to be a sideways consolidation day, NQ would need to stay below 13,780 to tank down to lower level of support, at 13,000.

If NQ can rally back up above  13,780 we could see NQ possible rally to 14,000 resistance.

NQ Guideline For Thursday

A narrow-range sideways price action for NQ on Thursday as NQ remains inside a trading range between 13,780 support and 14,300 resistance. Until NQ breaks out of the range it is going to continue to trade sideways inside the range.

Key intraday inflection price level for NQ on Thursday will be at 14,000, with overhead resistance at 14,250-14,300 and support at 13,780.

NQ Guideline For Wednesday

After breaking below strong support at 14,275 and then dropping down to the next lower support at 13,780, NQ has been stuck inside that trading range 13,780-14,275 for six consecutive days.

13,780-14,275 will remain key price levels until it breaks out of it. When it breaks, NQ should quickly trend to the next resistance level if the break is to the upside, and NQ should tank down to the next support level if the break is to the downside.

A clear break above 14,275 should rocket NQ up to the next resistance level, 15,150.

A break below 13,780 support should tank NQ down to 13,000

Intraday key inflection price level is 14,000, with resistance at 14,250 and support at 13,780

NQ Guideline For Tuesday

NQ traded down to key support at around 13,780 zone on Monday, support from prior pullback swing high on March 09 then traded sideways all day above it.

On Tuesday key price level for NQ will be at 14,000. 

If NQ can trade and stay above 14,000 we could NQ rallying back up to the next resistance at 14,275. However, trading below it implies NQ consolidation is continuing, with support at Monday low of 13780 zone

NQ would need to trade below 13,780 to indicate that the current downtrend has resumed. If so the next support is at 13,000.