With a positive momentum into the close on Tuesday, Nasdaq should continue to be bullish as long as pullback down can stay above 2370. However, 2400 is a very strong resistance. A sustained break above 2400 can trigger a massive short-covering rally.
- A sustained break below 2370 implies a bearish mode, a decline targeting the next support level 2360. Next support below 2360 is 2340.
Speculators are now moving their focus away from Greece and into Italy. Once Italy is done they should move on to Spain and France.
