Sunday, February 26, 2017

NQ Guideline For Monday

On Friday, after opening gap-down below prior day low, NQ slowly but steadily rallied all day, crossed key resistance on the short term 5-minute chat just before the close, setting up a gap-up and run-up trading pattern for Monday. Target for the next up day is a break above last week Thursday swing high.
 
The above scenario will be invalid is NQ opens and trade back below 5335, as trading back and staying below 5335 is an indication selling algorithm is coming back into selling mode. If so, the next support is 5310.