On Monday, Nasdaq rallied in the morning then pulling back in the afternoon, breaking down below key equilibrium level at 2867 area, setting up a potential wave C decline in the morning on Tuesday.
Key Level To watch on Tuesday is 2867.
-- If NQ can stay below 2867 area in the morning on Tuesday, look for the trend to be down, a declining wave C or 3.
-- However, if instead, price is above 2767 and stay above 2867 in the morning then Monday's afternoon pullback has ended, and the pullback was in fact, a setup for the next leg up.
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