Monday, August 10, 2015

NQ Guideline For Tuesday

Sunday night ramp-up was designed to caused a huge gap-up open on Monday in order to trigger short-covering rally, and that was exactly what happened on Monday.

Whether or not a follow-through buying would continue on Tuesday depends on where pullback-down support would come in.

Key pullback support for NQ on Tuesday would be 4530 area 
-- As long as pullback-down move can stay above 4530 NQ should resume its uptrend. Next target is a higher high above Monday high.
-- A violation of 4530 support is an indication NQ downtrend has resumed