Monday, November 4, 2013

Guideline For Tuesday - NQ

On Monday, NQ opened with a gap-up inside prior day range. It quickly tanked to closed the gap that was then followed by a bounce back up to re-test broken support-turned resistance 3380.

As expected, with a balanced opening, NQ stayed inside prior day range all day, closing just above key inflection price level, 3375 for Tuesday, with resistance at 3380 and support at 3360, trading range 3360 - 3380.

A clear break out of the range could cause NQ to go to the next support/resistance level.

Next resistance above 3380 = 3390
Next support below 3360 = 3350.