NQ Guideline For Friday

Another choppy narrow-range up-day again for NQ on Thursday. As long as key support price level is not violated NQ is going to continue upward, without any large pullback-down mode, it will continue to be choppy.

Greek debt crisis is going to continue to be a major influence on the financial markets.

 

Key support for Friday will be 4450.

-- Rally to continue above 4450

-- Pullback consolidation on a break below 4450

NQ Guideline For Thursday

Dragged down by a sell-off in Apple share, AAPL, NQ sold off in the afternoon sending NQ into a pullback-down mode. 

Whether or not NQ will continue its sell-off or resume its uptrend on Thursday, only time will tell, and will depend on where it trades in relation to its price inflection level.

Price inflection level for NQ on Thursday will be 4445

-- Trading below 4445 is an indication NQ is still in a pullback-down mode, next support is 4415

-- Trading back above 4445 implies NQ uptrend has resumed.

NQ Guideline For Wednesday

Another choppy narrow-range up-day again for NQ on Tuesday. With the Fed likely the only buyer in town the market is just struggling moving upward. Janet Yellen testimony failed to move the market.

 

Without any major unexpected even that can cause sellers to sell, the current choppy slow narrow-range uptrend is going to continue, with or without a pullback, with the next technical target on the daily chart at 4600, but 4500 whole number resistance could cause some pullback prior to NQ reaching 4600 target.

Key support for NQ on Wednesday will be 4440.

-- Uptrend to continue above 4440 withour any larger degree pullback-down move.

-- Clear break below 4440 is an indication NQ is going into a 1 to 2 day pullback mode

NQ Guideline For Tuesday

As expected, another slow, choppy and narrow-range up-day for NQ on Monday. Without any large pullback the pattern of slow, choppy and narrow-range up-day is going to continue.

Key support for Tuesday will be 4430.
-- As long as NQ pullback-down decline can stay above 4430 on Tuesday, look for the rally to continue.
-- A clear break below 4430 implies a larger pullback-down move.

NQ Guideline For Monday

With No Change in the Greek debt situation last Friday, unless the Greek people can somehow overthrow the bums that they voted into office to supposedly represent them, but instead represented the bankers, nothing is expected to interrupt the Fed non-stop buy programs designed to push the market up and up to the next technical target of 4600. The rally may be  slow or may be fast, with or without a pullback.

Key support for NQ on Monday is 4415 . 

-- As long as NQ can stay above 4415 the uptrend should continue without much pullback.

-- Breaking below 4415 however, is an indication NQ is going into a one to two days pullback-down mode.

NQ Guideline For Friday

Another uninteresting narrow-range up-day for NQ on Thursday. Until NQ can get a decent pullback down move, it is going to continue to be choppy and narrow-range. However, there is a very clear bearish divergence on the 60-minute chart MACD, so may be ready for a larger pullback down move.

Key support for NQ on Friday will be 4400.

-- Bullish above 4400, an indication NQ is still continuing its uptrend.

-- Breaking below 4400 implies a larger pullback down move, first support is 4385

Germany and  Greece are on a collision course ahead of crucial bailout talks on Friday after Berlin knocked back a Greek compromise proposal and insisted the country stick to its existing austerity plan.

 

Setting the scene for a make-or-break meeting in Brussels , the eurozone’s largest economy dismissed as “not substantive” a proposal from Greek finance minister Yanis Varoufakis,which appeared to have all but capitulated to creditors’ demands.

NQ Guideline For Thursday

Another non-event day in the market on Wednesday with NQ trading in a narrow sideways range, with no buyers to rally the market upwards, and no short-sellers willing to sell until we NQ breaks below key support level.

That key support level on the 5-minute chart for NQ on Thursday is 4375.

-- As long as NQ stays above 4375 it is likely continue to chop its way up.

-- A clear break below 4375 is likely to trigger some algo sell programs but strong support lies at 4340 area.

NQ Guideline For Wednesday

NQ current uptrend on the daily chart looks tired and exhausted, and in overbought conditions, ready for a pullback, but at the same time, it can continue to chop its way upward.

On Tuesday NQ stayed above key inflection price level of 4370 but without any new buyers except the Fed HFT machine, it simply traded sideways in a narrow trading range. 

On Wednesday, key support price level for NQ is 4375.

-- As long as NQ can stay above 4375 NQ is either going to trade sideways or continue to trend upward.

-- Breaking below 4375 could trigger some algo sell programs, with the next support at 4345

NQ Guideline For Tuesday

NQ daily chart is still in a very strong uptrend, but may soon be ready for a one to two days pullback before resuming the uptrend, that is, as long as any pullback-down move does not clearly violates key pullback price level.

Key inflection price level for NQ on Tuesday will be 4370

-- Trading above 4370 is an indication NQ is still in a strong uptrend with the next ADR upside target at 4418.25

-- Clearly breaking below 4370 however, implies NQ is in a pullback-down mode, next support is at 4345.

Greece debt negotiation with the EU should continue to be a major influence on the direction of the stock market.

 

NQ Guideline For Friday

NQ opened with a gap-up and then ran-up all day, breaking above the high on the daily chart, but by just a slight amount. Whether or not the shorts will cover on Friday, which would imply a fast move upward, only time will tell, and it will depends on where NQ trades in relation to key price level for Friday.

Key price level for NQ on Friday will be the recent swing high of November 2014 at a price of 4345 area.

-- Trading above 4345 on Friday has the potential to trigger short-covering rally or spike.

-- Trading below 4345 is an indication NQ is going into a pullback mode, first support is 4320 area. Should 4320 is violated, the lower support comes in at 4300.