Sunday, April 19, 2015

NQ Guideline For Monday

NQ opened with a huge gap down below support, then ran down then rallied up into key resistance 4350 in the afternoon, setting up more rally on Monday or a decline to retest Friday swing low.

Key price level to watch for on Monday will ve 4350.
-- Trading above 4350 is likely to trigger a short-covering rally up to re-test broken-support now resistance 4370-4380 area.
-- Trading below 4350 is likely to trigger sell programs. If so, NQ is likely to drop down to re-test or break Friday's low 4325.