Monday, August 25, 2014

Guideline For Tuesday

On Monday, NQ opened with a gap-up to another higher-high on the daily chart, then after a choppy early morning rally, profit-taking set-in droppign NQ down to support before bouncing back up to re-test the opening price from below.

NQ market looks tired and may be ready for another pullback-down day before rallying for the long lanour day weekend.

Key inflection price level for Tuesday is 4060.
-- Staying above 4060 is an indication NQ is going to make another higher-high above Monday's swing high before pulling abck down.
-- Trading below 4060 implies NQ is going into a larger pullback-down mode, next support is 4045-4050.