Monday, April 8, 2013

Trade Guideline For Tuesday

NQ continued to rally / pullback up on Monday, up to just below strong resistance 2785-2790 area at the close. Unless NQ can clearly break above resistance, and then stay above resistance it is likely to pullback down to support on Tuesday. 

If so, and as long as 2770 support is not clearly violated, it should then continue to rally back up to try to break resistance.

A clear break below 2770 implies NQ is ready to trend back down, with supports at 2755 then 2740. 

The market is clearly topping with Nasdaq leading the way down.  Clear divergence between Dow and other markets (Charts from Elliott wave Int)

040613a


040613b

040613c

040613e

040613f