Tuesday, July 22, 2014

Guideline For Wednesday

On Tuesday, NQ opened with a gap-up above prior swing high, but without many shorts left to cover, consolidated sideways above the high in a narrow trading range.

For Tuesday as long as it can stay above 3935-3940 NQ should continue to be bullish. The next target up is still 4000 for NQ.

Trading below 3935 could trigger algo sell programs that can quickly tank it down to 3910-3920.