NQ Guideline For Monday

On Friday NQ continued its decline from Thursday afternoon high, and made a lower low below Thursday swing low, confirming that the downtrend is still in tact.

With trailing stop-loss now somewhere above 13,160, it would need a sustained beak above 13,160 before algos shorts would start to cover and buy, thus reverses the daily trend from down to up.

Below 13,160, the downtrend that started from January 26 high should continue lower, with strong support zone between 12,200 - 12,400. However, the decline targets are between 11,600 - 11,800

A break-back above 13,200 will invalidate the lower targets.

NQ Guideline For Friday

On Thursday NQ rally back up to resistance,in the morning then drop down in the afternoon.

So far, overnight during globex trading session, the decline has continued down. Where it opens tomorrow is key to trend direction. Key level to break is at around 13,000.

A clear break below 13,000 is an indication NQ is going to break below Wednesday swing low, down to 12,800 area.

If it can stay above 13,000, we could see the typical Friday choppy sideways trading pattern, and to confirm that, we want to see NQ trading abck above 20-ma on the 5-minute chart

NQ Guideline For Thursday

 A very large down day for NQ on Wednesday. A large down day like Wednesday's is often followed by another lower low (see the decline in early September 2020 as a possible template), either,

1. In the morning with a gap-down open or a run-down after open, or 

2. After a pullback-up rally in the morning. and then if the pullback failed to break above key resistance, which for tomorrow is at 13,200. we would then see the downtrend resumes to lower low.

After a lower low it tends to consolidate and trade sideways .

The next downside target is 12,2300-12,400 strong support zone. Resistances are 13,200, then 13,400

NQ Guideline For Wednesday

NQ traded sideways in a very narrow range on Tuesday. However, after the close of the cash market the Fed spiked NQ about 130 points in a very short period of time, into a new higher high.

On the daily chart, NQ parabolic move up is still intact, unless NQ trades below key support at 13,400 , we should see another higher high print on Wednesday

Key inflection price level for NQ on Wednesday will be at 13,500, bullish above it. Trading below 13,500 could cause a sharp drop to 13,400 key support level.

If NQ should drop below 13,400 we could see a large decline.

NQ Guideline For Tuesday

On Monday NQ opened with a huge gap-up, then ran up to targets, and reversed very quickly and dropped down almost 400 points from the morning high.

Under normal market conditions NQ should pullback down for 2 days. The pullback down move was brief as buyers came back agressively to buy.

With NQ now in parabolic mode up, it is possible NQ could rally back up to another higher high above Monday high during Tuesday's trading. To do so it has to trade above 13,500 on Tuesday.

Trading below 13,500 could attrack some selling. Key support is now at 13,400. Trading below 13,400 is bearish, with first support at 13,300. If that support breaks,the next lower support is at 13,200

NQ Guideline For Monday

On the daily chart, NQ is now in a parabolic-UP mode.

Thursday and Friday was a narrow-range consolidation days following a large range trending-up days on Tuesday and Wednesday.

The setup is for a large-range trending day on Monday, the direction will depend on where NQ would trade after the open, in relation to its key fair value balance price zone at 13,350.

Trading above 13,350 should cause NQ to trend up to above Thursday swing high, with the next upside target at 13,450. 

13,450 is a decision price zone where NQ either reverse back down or rocket up and trend up all day with the next upside target at 13,550.

Opening and trading below 13,450 on Monday is an indication that NQ still need a larger pullback down move before rallying back up again.

On the 60-minute chart, there is a setup for possible large pullback down move on Monday before rallying back up again. However, with NQ now in parabolic move up on the daily chart, we could see the daily trend over-riding the 60-minute pattern.

NQ Guideline For Friday

Thursday was also a trending up day again for NQ following a very large up-trending day on Wednesday. Now that NQ is in extreme overbought conditions on both the 60-minute time frame and daily time frame, we could see some larger pullback down move on Friday.

Although Friday tends to be a choppy sideways non-trending day, with NQ now in parabolic-up mode we could not rule out another trending-up day again on Friday

Key line-in-the-sand for NQ on Friday will be at 13,360. If NQ remains above 13,360 we should see NQ makes another higher high on Friday.

Breaking below 13,360 could trigger a quick decline to support at 13,300 - 13,320. It is difficult to predict whether or not 13,300 will break. If the market is not extreme bearish 13,300 support should hold. Breaking below 13,300 could tank NQ down 13,100

NQ Guideline For Thursday

Massive rally triggered for President Biden inauguration on Wednesday just to make him look good. The buying binge by the Fed and global central banks is going to continue. However, overnight on Wednesday night, Antifa is wrecking havoc in numerous cities in the US and that could could trigger selling. Who will win is difficult to know, we just have to wait and see.

For Thursday, key support in the morning will be at 13,280. As long as NQ remains above 13,280 in the morning NQ should rally to another new high above Wednesday swing high.

Should NQ trade below 13,280 we could see a quick drop to the next support at 13,220.

NQ Guideline For Wednesday

On Tuesday NQ opened with a gap-up into overbought zone, thus needed a pullback down to support before rallying back up again, which was exactly what it did.

On Wednesday with NQ closing just below key resistance  of  13,000, if NQ pushes above 13,000 at the open, and then stay above 13,000, we could see NQ rocketing up to the next resistance at 13,120 and above.Failure to stay above 13,000 could cause sharp selling, with supports at 12,920 then 12,800.

The Fed may want to keep buying the market pushing it up for President Biden inauguration.

NQ Guideline For Tuesday

A bearish close for NQ on Friday. With Monday market closing for the Martin Luther King holiday we would have to wait for Tuesday's opening to decide on trend direction of the day.

Key price level and now still acting as resistance is 12,930. With NQ currently trading around 12,930 price level during globex session on Monday night, where it opens and trade on Tuesday morning will determine the direction of the trend of the day for Tuesday.

If NQ opens and stay above 12,930 it would turned NQ bias from bearish to bullish. However, should NQ not able to stay above 12,930, we could see NQ dropping back down towards Friday's low. 

If that breaks there is some support around 12,600 zone, but if the market is bearish, it could easily drop down to 12,400.

Watch USD index and 10-year treasury yield for market direction indicator. USD has been rising which is bearish for the market, and bond 10-year treasury yield rising, also bearish for the market.

10-year treasury yield has broken above downtrend line, will be bearish for the market unless it drop back down