Nasdaq open gap-up and then trend up all day on Tuesday, closing near the high of the day. For Wednesday as long as NQ can stay above key inflection level, the trend will continue up. Failure to stay above key level implies it is going into a consolidation/pullback mode.
Key inflection level is 2725.
- Above 2725 implies the next leg up is in progress, target 2750.
- Below 2725 implies it is going into a consolidation/pullback mode target down is 2700-2710.
Spain debt crisis remains in the limelight.
