Technical Recap (NQ) – 10/15/2021

NQ 120-min

● On the 120-min chart, the near-term uptrend that began with NQ on 10/4 has held and is now at the top end of that channel.

● Key support/pullback levels to watch early next week are 15000 (50% Fib retracement, SMA 20), 14876 (38% Fib, SMA 200, SMA 50) and 14680 (bottom of near-term channel, 23% Fib).

● 3/10 oscillator continues to favor the uptrend.

NQ daily

● Uptrend channel continuing to hold here too.

● The play between SMA 20 and SMA 50 currently not actionable unless we see a break below the lower end of the channel and the SMA 200 at around 14000 (we also look for moves towards a crossover for long/short trades); however, a break below 14K at this point is becoming less likely as we move into what are historically bullish months through the end of the year.

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