Nasdaq stayed above key 2620 support level on Monday and then rallied, breaking above 2640 and 2660 resistance, closing at the high of the day.
Support level on the March contract is now 2655 and 2640.
-- Above 2640 NQ should continue to rally towards the next key resistance 2692-2700
-- Below 2640 implies it is going back down to support 2615-2620.
The magnitude of the Liberal Democratic Party’s win in Japan’s election yesterday smoothens the path for fiscal stimulus in early 2013 as incoming Prime Minister Shinzo Abe seeks to end the economy’s contraction
http://www.bloomberg.com/news/2012-12-17/ldp-landslide-win-clears-pipes-for-japan-fiscal-spigot-economy.html
