NQ Guideline For Wednesday

A small up-trending market for NQ on Tuesday ahead of the CPI release on Wednesday. The number could get the market going again, up or down.

Key price level for NQ on Wednesday will be at 18,400, bullish above, bearish below it with key support at 18,260

CPI report release date and time: Wednesday, May 15 at 8:30 a.m. EDT. The CPI is forecast to rise 0.4% in April after increasing by 0.4% in March. Core CPI is forecast to rise 0.3% in April after rising 0.4% in March. The CPI year over year is forecast to rise to 3.4% in April from 3.5% in March.

NQ Guideline For Tuesday

NQ continue to trade sideways in a very narrow range as the market await inflation number on Wednesday. As such, NQ could continue to chop around until Wednesday.

Key support on Tuesday is at 18,260.

NQ Guideline For Monday

Another day of very choppy narrow range trading day for NQ on Friday. NQ looks ready to drop down unless it can stay above key support 18,100.

Current trading range is between 18,100 support and 18,260 resistance.

On the intraday basis, inflection price level for NQ on Monday is at 18,250, bullish above, bearish below it.

NQ Guideline For Friday

Another narrow-range sideways consolidation day for NQ on Thursday, and it was also the third day of sideways consolidation, setting up for a breakout trending-up day for NQ on Friday.

The key price level; to watch will be at 18,250, If NQ could trade above 18,250 and the shorts may get forced to cover their position ahead of the weekend, we could see all day trending up trading pattern, with upside price target ranging from 18,400 to 18,500 as normal target.

Failure to trade above 18,250 is bearish, with NQ trading back down to 18,000-18,100 support zone.

NQ Guideline For Thursday

Another narrow range sideways pattern for NQ on Wednesday. Without a larger pullback down move we are likely to continue to see more narrow range choppy price action.days.

On Thursday support is at 18,100 and resistance is at 18,200.

NQ Guideline For Wednesday

Another very narrow-range trading action for NQ on Tuesday. Without a decent pullback NQ is likely to continue to rally in a very narrow range fashion.

For Wednesday intraday support is at 18,100 and resistance is 18,265.

Inflection price level is at 18,200, bullish above, bearish below it.

NQ Guideline For Tuesday

A very narrow-range uptrend day for NQ on Monday as NQ is now in overbought zone on the 5-minute chart.

Key price level to watch for on Tuesday is at 18,200 as resistance, bullish above it with the next resistance at 18,400.

Trading below it is an indication NQ is going into a consolidation mode, first support is at 18,100, key support is 18,000.

NQ Guideline For Monday

A huge gap-up open for NQ on Friday following a very dovish Fed announcement on Wednesday and the returns of the stock buy-backs programs.

Will the market continue to rally on Monday or pullback down, will depends on where it trades in relation to its intraday support-resistance zone, 18,000, bullish above, with the next resistance at 18,100 then 18,200

Bearish below 18,000 with lower supports at 17,900 and 17,800.

NQ Guideline For Friday

A sideways trading action for NQ on Thursday, down in the morning then rallied the rest of the day.

NQ has traded over 100-points higher overnight. If it can stay at the same level by the time the regular trading session opens NQ would have a huge gap-up open.

Key inflection price level for NQ on Friday will be at 17,565, bullish above it with first resistance at 17,800 then 18,000.

Bearish below it, with first support at 17,400.

NQ Guideline For Thursday

Wild swing in the market after the FOMC policy statement was announced. We can clearly see that key support is now at 17,400 and key resistance at 17,800, that's 400 points trading range.

On Thursday trading above 17,400 implies choppy sideways or a rally back to 17,800 for NQ. If NQ can break and stay above 17,800 we can see a fast move up to 18,000-18,100.

It is a crazy market, the FOMC was giving a mix signal on Wednesday, so anything is possible. Trading below 17,400 would be a clear indication NQ is going down to 16,700.