On Monday, NQ opened with a gap-up, but quickly collapsed, crashed down through the gap-close. As a consequence, turned into a bearish morning. It then consolidated sideways the whole afternoon, closing below key resistance, 3220, which will also serve as key resistance for Tuesday trading.
At the close on Monday, NQ looks ready to tank back down to lower low, below Monday morning low, down to the next crucial support level at 3187 area. It may or may continue down on Tuesday depending on where it trades in relation to the key level of 3220
-- Above 3220 implies NQ is going back up to either retest last Friday swing high, or breaking above last Friday high.
-- Below 3220 implies NQ is going to re-test or break below Monday's swing low.
Fiscal Cliff deal..
