NQ opened gap-up above 2585 resistance but failed to ignite any short-covering, and quickly reversed down, breaking through the value area and dropped all the way down to 2550 support before stalling and reversing back up, breaking above the morning high before pulling back down on end of day profit-taking.
For Wednesday, Key Level is still 2575.
- Resistance Levels = 2600, 2625
- Support Levels = 2560, 2550.
- Resistance Levels = 2600, 2625
- Support Levels = 2560, 2550.
-- Bullish above 2575, but may need to clearly break above 2600 resistance to ignite a sustained short-covering rally targeting 2625 resistance.
-- Bearish below 2575, decline targets are 2560 and 2550
Value Area High (NQ) = 2592.50
Point-Of-Control = 2584.50
Value Area Low = 2569.50
On Tuesday Moody's downgraded 13 Italian Banks.
