Monday, August 31, 2015

NQ Guideline For Tuesday

A slightly bearish day for NQ on Monday with the close near the day low. With the Chinese market selling off on Tuesday, if the sell-off continues into the close, it has the potential to drag the US market down with it and likely to trigger another round of liquidation decline.

Key support for Tuesday will be 4200.
-- Below 4200 the algorithm selling programs could tank NQ down to 4000 very quickly.
-- Ability to stay above 4200 would keep NQ in a sideways to up-mode.