Thursday, September 30, 2021

NQ Guideline For Friday

A choppy down day for NQ on Thursday. Fridays used to be very choppy and sideways type of days. However, recently Friday has been trending down as traders exit their long position as they are not willing to take the risk of holding longs through the weekends.

Key inflection price level for NQ on Friday will be at 14,800, bullish bias above, bearish bias below it, with the next lower support at 14,400.

Wednesday, September 29, 2021

NQ Guideline For Thursday

A bearish sideways consolidation trading action and pattern for NQ on Wednesday, setting up for a big down day once consolidation has ended. The downtrend may resume either on Thursday or Friday.

The daily time-frame is bearish, and the 60-minute time-frame is also bearish. However, NQ could continue to consolidate or even rally for the next several day before tanking back down again.

On the short term intraday time-frame, key inflection price level for NQ is at 14,800, bullish above it with key resistance at 14,900, and bearish below ir.

Tuesday, September 28, 2021

NQ Guideline For Wednesday

On Tuesday NQ opened with a huge gap-down then trend down seven waves on the 5-minute chart time-frame before the decline stopped, then spent the rest of the day trading sideways. If the sideways consolidation has ended, NQ should trend back down again on Wednesday.

Key price level to watch for on Wednesday will be Tuesday swing low. Trading below Tuesday low, 14,740, is going to run over more trailing stop-losses, the next support is 14,400.

If NQ can stay above Tuesday low, it may either trade sideways or rally as the short may decide to cover.

Monday, September 27, 2021

NQ Guideline For Tuesday

On Monday NQ opened with a huge gap-down and then quickly and immediately dropped down to support. It then traded sideways between support and resistance all day long.


For Tuesday trading session, it is likely NQ is going to trade sideways again between support at 15,120 and resistance at 15,260..

However, if NQ should trade outside the 15,120-15,260 trading range, and stay out of the range, we could see a fast trending move away from the range.

A false breakout of the range is likely to trigger a fast reversal.

Sunday, September 26, 2021

NQ Guideline For Monday

With NO taper any time soon, and No taper ever simply because of the debt trap, the market may just continue to melt-up and up as hyperinflation of fiat currencies world wide drives asset prices higher as investors seeks protection from massive inflation due to pure money printing by world central banks

The possible black swan even that could cause the deflationary forces to overwhelm central banks money creation activities would be a massive real estate collapse in China, with contagion to the rest of the world. As long as the contagion from Evergrande is contained, asset inflation should continue.

On the short term intraday time-frame, key inflection price level for NQ on Monday will be at 15,350, bullish above with upside target at 15,550, bearish if it cannot stay above it, with first downside target at 15,150

Thursday, September 23, 2021

NQ Guideline For Friday

With the Fed not going to start tapering anytime soon the shorts continued to cover on Thursday, pushing NQ up to key resistance at 15,350, now key line-in-the-sand.

However, even with NO taper by the Fed but with the 10-year treasury yield currently going higher due to persistent inflation, and if the yield continue to go higher,  even without the Fed taper, the stock market is still vulnerable to a massive algo selling, the next key level will be at 1.50% on the 10-year treasury bond.

On the short term intraday basis for NQ on Friday, key inflection price level will be at 15,320, bullish above, bearish below it, lower supports is at 15,200

Wednesday, September 22, 2021

NQ Guideline For Thursday

A rally day for NQ on Wednesday, the third pullback day since breaking below the 50-day moving average on the daily chart.

Now that the FOMC decision on policy is out of the day, if the fast downtrend is going to continue right away we should see NQ start to trend down on Thursday. If that does not happen, we can expect further sideways consolidation days or rally up day.

With the Fed not doing any taper to their QE anytime soon, we could see the stock market rallying back up again, with first resistance break is the 50-day moving average on the daily chart, now at 15,170

Key intraday price level for NQ for Thursday will be at 15,200 resistance. Bullish above and bearish below it.

Tuesday, September 21, 2021

NQ Guideline for Wednesday

The stock market is now in bearish mode. If the FOMC confirms their planned reduction in QE on Wednesday the current downtrend is going to continue.

However, if the Fed changes their plan, ad not taper, we could see the shorts covers. If so, we could see a short-covering rally. Key level to watch for is the 20 and 50 day moving average on the daily chart. Breaking back above those moving averages confirms a resumption of the bull market.

Failure to break back above the 20-ma on the daily chart is an indication the downtrend is going to continue down. NQ downside target on the daily chart is its 200-dma.

On the intraday 5-minute chart, key inflection price level for NQ on Wednesday will be at 15,000, bullish above, bearish below it.

Monday, September 20, 2021

NQ Guideline For Tuesday

On Monday, NQ opened below its 50-day moving average on the daily chart, thus triggered massive selling that lasted most of the day. It was a very large down day.

NQ is now clearly in a downtrend on the daily chart, with downside target its 200-dma on the daily chart, now at 13,800.

Key level to watch would be the 50-dma on the daily chart, now at 15,180. As long as NQ remains below 15,180, selling pressure should continue.

Key intraday inflection price level for NQ on Tuesday will be at 14,900, bullish above it, with first upside resistance at 15,150. Bearish below it with first support at 14,800 then 14,400.

Sunday, September 19, 2021

NQ Guideline For Monday

NQ day high on Friday was the 20-dma on the daily chart, its key inflection price zone. As NQ opened below the 20-dma, sellers came in aggressively tanking the market and caused a large trending down day for NQ on Friday.

The open was at the day high and the close was at the day low, setting up for a potential bounce day for NQ on Monday or another large sell-off day, and it depends on where it opens and trade soon after the open on Monday.

Key intraday inflection price level for NQ on Monday will be at 15,320.

-- Bullish above it with the first resistance at 15,400, and bearish below it with first support at 15,150, and then a stronger support at 15,000