NQ Guideline For Wednesday

Buy programs continued to target a few key nasdaq stocks including Apple just to keep nasdaq uptrend alive. Buy programs is likely to continue to target nasdaq stocks especially now that the March swing high in NQ is not too far away. However, NQ is now in extremely overbought condition and thus vulnerable to sudden strong selloff.

 

Key price level for NQ on Wednesday will be 7140 support.

-- As long as NQ can stay above 7140 support, selling should remains under control, add the rally should continue.

-- Breaking below 7140 could attract some selling.

NQ Guideline For Tuesday

Buy programs continued to target NQ in order to create a bullish sentiment in order to postpone the imminent global banking collapse, starting in Europe now that Deutsche bank is again back on the brink of collapse. With its derivative position estimated to be over 50 trillion dollars, there is no government that has the ability bail it out this time around.

In the short run, NQ continue to be in a bullish mode. In fact the buy programs may get more aggressive in the days ahead as it approaches the March 2018 swing high, knowing that a break would love to trigger massive short-covering.

 

Key support for NQ on Tuesday will be 7090

NQ Guideline for Friday

The stock market was down on Thursday as the Trump administration triggered trade war adding to the Italian debt crisis.The stage is set for a global financial and economic meltdown.

 

Key price level for NQ on Friday remains at 6960, and at the close on Thursday 6960 was acting as support. As long as NQ remains above 6960 selling should remains under control.

 

However, should NQ breaks below 6960, the selloff could quickly take NQ down to the next lower support level 6860.

 

Trump trade was is very destructive to global economy but with the US administration under the control of the ultra nationalist, trade war should intensify going forward.

 

NQ Guideline For Thursday

Massive intervention by central banks in the bond market pushing yield down and buying the stock market has temporarily prevented the stock market meltdown, with all major indices positive a rally day.

 

The sovereign debt crisis is starting to get out of control again and the problem is very likely to start in Italy then spread worldwide, and it is very likely to start getting out of control in June 2018.

For NQ, the daily chart is still showing a bullish configuration, on its wave 5 up from the last test of its 200-dma support at the end of April NQ looks ready to break above its wave 3 swing high, and when it does, it is going to run-over many stop-losses congregating just above wave 3 swing high (7013) triggering large rally day.

 

On the 5-minute timeframe, key price leve for NQ going into Thursday will be 6960.

-- NQ is bullish above 6960, and any pullback is a buying opportunity.

-- If Italian crisis is going to again negatively affect the market, a break below 6980 is going to trigger some selling, next support is again 6860.

 

 

NQ Guideline For Wednesday

Global stock market sold off hard on Tuesday as fear of Italian debt default is starting to cause contraction of global liquidity which then is starting to trigger selling of assets such as stocks.

Central banks may be able to temporarily stabilize the global liquidity situation to avert global financial meltdown but deflationary forces will soon starts to overwhelm the authorities and then market meltdown would start to intensify.

 

For Wednesday NQ key price level will be 6960, now acting as resistance.

-- Trading below 6960 is going to continue to put NQ under selling pressure, the next key support is 6860.

-- Trading back above 6960 should reduce selling pressure

NQ Guideline for Tuesday

The US stock market was closed for the memorial day holiday on Monday but last Friday they were able to push NQ above 6960 key resistance level. However without buyers NQ simply traded sideways above 6960 in a very narrow range.

 

Key price level for Tuesday will be 6960 now acting a key support.

-- As long as NQ remains above 6960 it may just trade sideways or rally.

-- Breaking back below 6960 could trigger selling. If so, the next support is at 6860.

NQ Guideline For Friday

The stock market sold off hard as Trump cancelled his meeting with the North Korean. However, early Thursday morning selloff from resistance was aggressively bought as NQ rally back to close at resistance again.

6960 will continue to be key resistance level for Friday, Whether or not they are able to push NQ above resistance, it is difficult to forecast as deflationary forces continues to weight heavily on the stock market, buying continues to be met by heavy selling at resistance.

 

Key price level for NQ on Friday will be 6860 support and 6960 resistance.

NQ Guideline For Wednesday

NQ continued to trade sideways inside a trading range betwen6869 support and 6960 resistance for six consecutive days. It may require a major market-moving catalyst to knock the market out of its trading range.

For Wednesday NQ trading range is 6860 - 6960. NQ should continue to trade sideways as long it remains inside the range.

NQ Guideline For Tuesday

The market manipulators tried to rally the market on Tuesday by opening with a huge gap-up in order to generate a positive spin on failed trade talk with China, but the stock market refused to rally as deflationary forces continues to weigh heavy on the stock market.

 

NQ has been stuck between 6960 resistance and 6860 support for the last five trading days, and will continue to trade sideways inside the 6860-6969 range until it can clearly break out of the range.

NQ Guideline For Monday

On Friday NQ traded sideways above key support at 6860, prior swing high now acting as support. And as long as NQ remains above 6860, selling should remains under control, thus 6860 will be key price level on Monday.

 

If NQ can stay above 6860 we can expect another sideways price action or a rally. However, should NQ clearly break below 6869 selling could quickly tank NQ down to the next lower support price level ay 6760