Nasdaq opened below Line-in-the-Sand and promptly tank down to support. It failed to break down below 2300 support and reversed back up, triggering short-covering ahead of Apple's earning report after the market, breaking above LIS and 2355 resistance closing up for the day.
For Wednesday I will use 2355 and key Line-n-the-Sand.
- More short-covering above 2355, targeting 2400.
- Below 2355 implies a re-test of support 2335, then 2315-2300.