On Monday, NQ continued to trade sideways inside a narrow trading range between 2700 support and 2725 resistance until the end of the day when NQ was finally able to breakout above 2525 resistance.
-- For Tuesday, a continual push above 2725 resistance should trigger another round of short-covering rally, with first target at 2750.
-- Breaking back below 2715 implies it is in a pullback mode targeting 2720 support. As long as 2720 support hold, it is still in a position to breakout above 2725 resistance. A break below 2715 would imply it is either back in consolidation mode or potential reversal down.
Spanish town in hock as banks cope with $250 billion in bad loan.
