Monday, May 2, 2016

NQ Guideline For Tuesday

On Monday NQ opened and stayed above 4300 key support. The after consolidating sideways all morning buy programs came in the afternoon sending NQ up to 4375 resistance, and staye there at the close.
 
On Tuesday key price level for NQ will be 4375 resistance.
-- Bullish above 4375 and likely to force some shorts to cover. if so the next resistance is at 4400.
-- Failure to break and stay above 4375 could cause some selling, with supports at 4340 then 4325, then 4300. NQ would need to break below 4300 to trigger another round of liquidation decline. 
 
According to the Center On Budget & Policy Priorities nearly 75% of every tax dollar goes to non-productive spending. 
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