Sunday, February 8, 2015

NQ Guideline for Monday

After rallying sharply in the morning on Friday NQ reversed and sold-off hard into the close, except for a small profit-taking rally near the closing bell.

Greece potential exit from the European Union is going to be a major negative influence on financial market actions going forward
 
Key price support level for NQ on Monday will be 4200.
-- As long as NQ stays above 4200 sellers would stay on the sideline. A clear break above 4240 is likely to trigger algo buy programs that can catapult NQ up to the next resistance, 4260.
-- Breaking below 4200 could trigger another round of liquidation sell-off, supports are 4160 and then 4100