Tuesday, February 10, 2015

NQ Guideline for Wednesday

On Wednesday, Greece's debt crisis should continue to be a major influence on the market price action.

On Tuesday, NQ opened with a gap-up above 3230 key resistance, and as expected, triggered a fast trending move up, breaking above 4260 resistance on its way to 4280 strong resistance, a key price level to watch for on Wednesday.

-- NQ trading below 4280 is an indication it is going into a pullback mode, support is 4255 then 4220. As long as 4220 support is not violated, the uptrend is still alive. 
-- Trading above 4280 is likely to trigger more buy programs, resistances are 4300, 4320 and then 4340.