NQ Guideline For Wednesday

NQ trend on the daily chart remains down, as such rallies continued to get sold. NQ daily trend will stay down below 12,200.

12,000-12,050 price zone continues to provide support as NQ continue to trade sideways above it for the last six days in a row. With the bounce from such strong support so muted it is likely that support is going to break soon.

If so, the next support zone is between 11,620 to 11,750, and it is a strong support zone and is likely to cause a 3 to 4 days of bounce.

If on the other hand NQ sliced through it we could see very large 300-400 points consecutive down days as those buyers who bought 12,000-12,300 support zone gets run-over and exit their long positions.

The 5-minute intraday inflection price level for NQ on Wednesday will be at 12,050.

NQ Guideline For Tuesday

NQ opened with a huge gap-uo and then rallied to key resistance at 12,200 before dropping back down and trade sideways. all day.

12,200 will remain a key level for NQ on Tuesday, below 12,200 sellers will continue to come in to see resistance, 12,200.

However, if NQ could break above 12,266 area, we could see some short-covering that can cause NQ to rocket up to the next resistance zone, 12,400 - 12,500 area.

Key intra-day inflection price level is at 12,050, bullish above it and bearish below it.

NQ Guideline For Monday

On the daily chart, NQ trend is down below 12,200 and selling will the rally will be in play. The next  downside target is 11,800, and it is a very strong support level.

On the 5-minute intra-day time frame, key resistance for NQ on Monday will be at 12,050, bearish below it and bullish above it, with the next resistance at 12,400.

NQ Guideline For Friday

NQ traded sideways again on Thursday, still trading above key support zone between 12,000-12,100. As long a 12,000 support is not clearly violated we could see NQ rallying back up to 12,500, but 12,265 is a strong resistance from prior swing low.

On the 5-minute intraday time frame, key resistance is 12,265, and key support is 12,00-12,050. With Friday tendency to trade sideways, NQ may remain inside the range between 12,000 - 12,300 on Friday.

Key inflection price level is at 12,130.

NQ Guideline For Thursday

A sideways trading pattern for NQ on Wednesday with the low of the day dropping down towards strong support between 12,000 to 12,100..

It is likely NQ may bounce for 2 to 3 days from strong support. to confirmed the rally NQ would need to trade back above 12,200.

However, if NQ should drop down below 12,000 instead of bouncing, it will be an indication NQ is very bearish.

NQ Guideline For Wednesday

A large down day for NQ on Tuesday, a trend down day with the open below prior day low then after testing prior day low, trend down all day, and close at the low of the day.

On the daily chart we can see a very clear Elliot Wave pattern of a-b-c 1:1 pullback down from the high on February 2nd, with the low of the day on Tuesday also at the 200-day moving average, now acting as support. As such we could see a bounce from Tuesday low.

To bounce NQ would have to trade back above 12,150. Failure to do so could cause another large down day with the next support at 11,750.

NQ Guideline For Tuesday

The stock market was close on Monday following Friday';sideways type of day, and will reopen on Tuesday.

NQ has been trading in a trading between 12,200 support and 12,900 resistance for over two weeks and may be ready to breakout out of the range sometime soon, and when it does, we could see NQ going to the next trading zone.

If the break is to the downside, below 12,200 the next lower support level is at 11,500. If the break is to the upside, it has to clearly break above 12,900, the next resistance zone is 14,000.

Over the shorter term time period, on the daily chart of NQ the pattern is indicating a potential move down to 12,000 and then bounce back up to retest 12,900 resistance.

A clear and sustained break below 12,000 is an indication NQ is not retesting the high from February 02 swing high.

NQ Guideline For Friday

NQ opened with a huge gap-down on Thursday but because of the strong overall market bullishness, it has to bounce back up to test broken support which turned into resistance, 12,665.

When NQ failed to break and stay above 12,665 seller came in to sell and sold aggressively in the afternoon, dropping NQ back down to just above support, 12,450 area

On Friday key support will be at 12,450, bullish above it bearis below it with the next lower support at 12,200-12,300.

NQ Guideline For Thursday

A choppy up day for NQ on Wednesday. 

NQ broke out above prior day high in the afternoon and then after testing the breakout level, it rallied and close at the high of the day, creating a bullish close that should continue on Thursday.

NQ should continue to rally to a higher high above February 02 swing high and it could do it on Friday or next week.

Key intraday price level for NQ is at 12,665, bullish above it and bearish below it, with first lower support at 12,550..

NQ Guideline For Wednesday

NQ had a choppy sideways type of day on Tuesday. It may still want to go higher that February 2nd swing high but the choppiness of the current bounce from such an important support zone between 12,200 to 12,300 is not very convincing. As such, it is possible NQ may want to go back down to retest 12,200 support level.

Key intrday inflection price level for NQ on Wednesday will be at 12,550. Is is support at the close on Tuesday.