Monday, March 9, 2015

NQ Guideline For Tuesday

A narrow-range sideways consolidation inside day for NQ on Monday. Still in a choppy pullback mode on the daily chart, where NQ will trade on Tuesday will depends on where it trades in relation to key price level, 4425 for Tuesday.

-- A sustained break above 4425 could trigger some algo buy programs, next resistance is 4465.
-- Staying below 4425 is an indication that NQ is either still in consolidation or ready to trend back down again. 
-- NQ needs a sustained break below 4390 to trigger another round of algo selling, strong support is 4340 area, prior high on the daily chart.