Monday, August 12, 2013

Guideline for Tuesday

NQ opened with a gap-down and then immediately rallied to close the gap, breaking through the gap-close and rallied all the way up to R1 resistance before stalling and traded sideways all day. 

At the close of the day NQ is set to either gap-up to resistance, or rally up to resistance in the morning,  or open gap-down to support or drop down to support in the morning.

Key level for Tuesday is 3120,
-- Resistance 3135 - 3143, and 
-- Supports are 3109 - 3101

Gold opened with a gap-up just below key resistance 1350. It needs to clearly break above 1350 to trigger a short-covering rally. failure to do so would send gold back down to support 1320, 1300, 1280