Monday, July 21, 2014

Guideline For Tuesday

After opening with a gap-down and then quickly closed the gap, NQ pullback down to support on Monday morning before rallying back up to just below Friday swing high. It was a narrow-range sideways consolidation day.

Key inflection price level on NQ for Tuesday is 3923, support is at 3910 and resistance is 3940.
-- Above 3923 NQ is in a bullish mode with resistance at 3940. NQ needs to clearly break above 3940 to trigger a trending upday with the next larger degree target at 4000.
-- NQ is bearish below 3923 but price would need to break 3910 support to attract large momentun ago sell programs