Trade Guideline For Monday (NQ)

Nasdaq opened gap-down below key support level last Friday, stayed below it, then trend down all day as the bulls capitulated into the close, closing at the day low.

This sets up another capitulation day, a large gap-down opening, or morning trend-down, unless it can pullback up to above key level.

Key Level For Monday is 2465.

• Below 2465 implies NQ is still in a fast mode down, support are 2425, then 2400. Next support for ES is 1260. A crash could easily break below those support zones.
• Above  in NQ implies it is going into a pullback mode, targeting 2485. If short-covering rally can gain momentum, next target up us 2500.

European debt crisis is deteriorating at a rapid rate, and could turn into uncontrolled panic, triggering a crash if central bankers get overrun by sell orders.