NQ: End of day analysis!We got an irrelevant daily close .
Tomorrow, we have PPI data. NQ will behave in the same manner of CPI:
1- Overshoot: NQ down;
2- Inline or Undershoot: A bounce and down (zigzag).
What I want to highlight is that the current area 19100-19600 seems to become ST/MT Support or Resistance. Hence price might continue to be around it until the end of the week and the next few days.
When price will break it, it will give the sign of next direction. To this end, what do we have:
1- Recession, inflation and tariffs are all negative factors. NQ should continue down;
2- FED next week: free money; rate cut. These are positive factors. NQ downtrend ends and we move back up.
3- Tax cut and deregulation are also positive factors.
So as you can see, we have many opposite forces happening or markets expect them to happen. Any delay of the positive factors, markets will move down to make pressure.
Have a good evening/night!
