Monday, April 22, 2013

Trade Guideline For NQ on Tuesday

A gap-up open on Monday, and after an early morning pullback down to support, rallied up to resistance before dropping down on end of day profit-taking activities. 

On Tuesday, failure to continue to rally above 2810 implies NQ is going into a pullback mode down, either choppy sideways consolidation above support, or sharp reversal back down breaking support

For Tuesday, key level to watch for is 2810 resistance.
-- Below 2810 implies NQ is either in a pullback mode. Supports are 2794, 2780 
-- Above 2810 implies more short-covering rally, next resistance is 2835, 2859