Last Friday, ahead of the long labour day weekend, Nasdaq continued to trade sideways inside its established trading range, with the close right at key support-resistance level for Tuesday. For Tuesday, the bear-bull market bias will depends on where it opens and trades in relation to it key level.
Key Level For Tuesday is 2770.
-- Bullish bias above 2770, with 2790-2800 as the first upside target. It needs a clear and sustained break above 2800 to trigger a trending-up day.
-- Bearish bias below 2770, with 2740-2745 as first downside target. It needs a clear and sustained break below 27440 to trigger a trending-down day, with 2723 as next support level
Germany's Angela Merkel is just visited China, asking the Chinese leadership for permission to launch their Eurozone massive quantitative easing, likely their final move to help delay the eurozone inevitable collapse.
