Monday, January 20, 2014

Guideline For Tuesday

Following 2 sideways consolidation days, both Nasdaq NQ and S&P 500 ES are set to trend up on Tuesday. 

However, in order to do so, any decline should not breach key support levels, 3565 area for NQ and 1835 area for ES.

Should NQ and ES be above their respective key support price zone on Tuesday morning I would be looking to be on the buy mode. 
-- NQ target a break above 3610 swing high, 
-- ES target a break above 1846 swing high.

To confirm uptrend on Tuesday, NQ needs to clearly break is 3600 for NQ and 1838 for ES.