Tuesday, December 22, 2015

NQ Guideline for Wednesday

Another up day for NQ on Tuesday, the second up day in a row. If the downtrend is still in progress NQ should trend down on Wednesday, with or without first going up.

Key price level to watch for will be Tuesday swing low.
-- Staying above Tuesday swing low would be bullish but key resistance remains at 4590-4600. 
-- A clear break below Tuesday low is likely to trigger renew selling and resumption of a downtrend.

The price of crude oil should remain key to trend direction.