NQ Guideline For Friday

NQ traded sideways for the second day in following a large up-trending day on Tuesday. With Friday normally a sideways trading type of day, the market may continue to consolidate and then continue the rally next week.

 

Key resistance level on Monday remains at 4500. NQ would need to stay above 4500 to trigger a potential short-covering rally.

NQ Guideline For Thursday

NQ opened with a gap-up, then after running up in the morning, profit-taking at 4500 resistance area sent NQ back down to below the opening price, then rallied back up to the opening price level at the close, showing a doji day on the daily chart.

 

With the daily chart in a bullish up trending mode, and major global central banks in massive money creation business, NQ should rally back up again once consolidation and profit-taking activities has ended.

NQ Guideline For Wednesday

On Tuesday, massive buy programs no doubt triggered on behalf of the Fed Chairwoman to make her look good, rallied the stock market in a big way.

 

Massive money creation out of thin air by all the major world central banks in order to keep deflation at bay, may extend the inevitable collapse of the current monetary system for a while longer. But once the collapse begin the whole world will pay a very heavy price for the inevitable failed experiment of central banks.

 

For now, massive money creation by all the major central banks should continue to push the stock market up, but may also cause the collapse of the current central banks gold price suppression scheme that could lead to a massive explosion in the price of gold.

 

With buy programs surely to continue going forward, look for the stock market to continue to rally, running over stop-losses along the way. The next stop for NQ is 4500.

NQ Guideline For Tuesday

A choppy and narrow range type of day for NQ on Tuesday as NQ continued to be stuck below strong resistance zone between 4440 to 4475 area. It may need massive buy programs to break through resistance.

 

The daily chart is still in an uptrend and in buy mode but the momentum has greatly decelerate. The 60-minute trend is also indicating a slowing down in momentum, that could lead to a larger pullback down move.

 

On the short term time frame, key inflection price level remains at 4400.

-- NQ may try to rally above 4400.

-- The longer it stays below 4400, the more likely profit-taking could set in and take the market down. Next support is 4465.

 

Gold may be setting up for the next fast move up once the pullback to its 50-DMA moving average on the daily chart has ended.

NQ Guideline For Monday

With most traders out of the office for the long Easter weekend holidays last week, on Thursday  the market just chopped around in a narrow range sideways action. Now that most traders will be back from the holidays on Monday, the market can now continue to make a directional move.

 

With the daily trend still in a bullish buy mode, and the Fed in coordination with all the major central banks, continuing to liquefy the market, the equity market should continue to rally, albeit, in a slow choppy and narrow-range uptrend, as deflationary forces continues to fight central banks buy programs.

 

On the short term timeframe, key inflection price level for NQ on Monday will be 4400.

-- Trading above 4400 may trigger some short covering rally, next upside target is a break above recent high.

-- Staying below 4400 could put some selling pressure on NQ with the first support at 4365. With the daily trend still up, I don't expect any sharp selling to occur unless some unexpected market-moving news hit the market.

NQ Guideline For Thursday

Profit-taking ahead of the long Easter weekend pushed the market down all day on Wednesday, but it was choppy and narrow-range.

 

All major indices are still in a bullish buy mode on the daily chart. Whether or not there will be more profit-taking on Thursday, only time will tell, and in the morning at least, it will depends on where it trades in relation to key price level.

 

For NQ key inflection price level for NQ on Thursday will be 4400.

-- Bullish bias above 4400.

-- Bearish bias below, and it is an indication more profit-taking is taking place.

 

With the market closed on Friday, Thursday's trading may get choppy as most traders are already out of their office.

NQ Guideline For Wednesday

The slow and choppy rally continued on Tuesday, and should continue again on Wednesday.

 

Both the daily trend and the 60-minute trend are still in a buy mode. With all the major central banks in a massive money-printing binge, there is currently no sign the buy programs is going to stop anytime soon.

NQ Guideline For Tuesday

As expected, without any new buyers or news shorts that has to cover, it was another slow and choppy rally day for NQ on Monday. The pattern should continue until after we get a large pullback down move in the market.

 

The daily chart and the 60-minute chart timeframe remains bullish and in a buy mode

 

Key support for NQ on Tuesday will again be 4400, with inflection price level at 4410.

-- As long as 4400 remains intact, the uptrend should continue, target a break above Monday swing high.

-- Bearish below 4400 but it needs major catalyst to trigger major sell algos.

 

 

NQ GuidelineFor Monday

The stock market continued to rally in a narrow trading range again on Friday. Without new buyers, the current uptrend should continue to be choppy as the only main buyer in town, fighting the global forces of deflation, is the Fed itself, with other major central banks, the ECB, BOJ, PBOC, are also too busy fighting their own deflation forces with continuous rounds of massive money printing.

 

How much time is left before the fiat paper money system totally collapses, and the new gold-back money system replaces it, only time will tell, but it does not seems to be very much longer. We can see that all fiat currencies has been falling against commodities such as oil, and previous metals such as gold, even though central banks have been suppressing their prices with all their might.

 

But as traders, we must continue to trade price patterns, and the direction of our trades would depends on the timeframe we are trading in. Both the daily and the 60-minute timeframes are currently in an uptrend, but are now in overbought condition, and without a large pullback, the current uptrend is going to continue to be choppy and narrow range.

 

Key price level for NQ on the 5-minute timeframe for Monday will be 4400.

-- Bullish bias above 4400, with the first upside target is a break above Friday high.

-- Bearish below 4400, first support is 4390, then 4365.

NQ Guideline For Friday

NQ lagged behind the blue chips stocks on Thursday as market breath gets worse by the day. Unless the Fed is ready to directly restarts its own QE as opposed to engineering their QE through the BOJ, the PBOC and the ECB, we can expect the current rally to stall soon, to be followed by a resumption of the current bear market that started in January.

 

With the daily chart currently still in a rally mode, it would take some time before the current rally turns into a downtrend. For now the market may just continue to rally in a choppy narrow range trading pattern.

 

Short-term intraday key price level for NQ on Friday will be 4365 support.

-- If NQ stays above 4365, the shorts will remains inactive, first resistance is 4400.

-- Trading below 4365 could trigger some selling algos, supports are 4340, then 4330