NQ: Upcoming Weekly AnalysisFA Analysis:
1- This week, we have major central banks meetings. The most important one is the FED. Market is seeking hints and signals for free money and rate cuts to tackle the manufactured recession created by Trump "policies".
Any signal of free money from the FED will be well received; any other outcome will be translated in a huge sell-off of stocks and equities.
2- Last week, we saw that US equities and European Equities were moving in opposite direction! This tells us that money is fleeing US market. So the sell-off of US equities is not temporary; Investors and corporations seem lost confidence and trust in US Stocks. This has to be confirmed with the FED.
3- Also last week, we saw a huge undershoot of US Consumer Sentiment.
All the above are very bearish US Equities. The FED and tax cuts are the only factors that might save US equities in the ST. The damage in the MT< seem irrevocable.
TA Analysis:
Weekly TF:
NQ provided a weekly bearish close with a large wick. The weekly close was just above a Monthly support (dashed green line).
If we receive positive signals from the FED, price should retest 20315 (the previous higher swing of the Monthly support (circle).
If not, sellers will continue the downtrend.
Daily TF:
NQ provided a green Friday candle, but it was an inside the previous red candle. So no break, no shake from daily perspective.
I mentioned last week that the area 19100-19600 will be the next MT< Support/Resistance area (yellow box). As you can see, this scenario seems correct.
I think price will continue consolidate in this area until the FED.
Trade safely and wish you Good luck!
