A gap-up opening on Monday designed to trigger a short-covering rally failed miserable on Monday as the stock market instead of rallying , sold off hard, particularly for the growth stock represented by Nasdaq. This is a very bearish sign for the stock market as December is usually a very bullish month, and it is an indication the market top may be coming very soon, if it is not already in.
Key price level for NQ on Tuesday will remains at 6325 for Tuesday.
-- Trading below 6325 is going to keep selling pressure at elevated level and could further tank NQ down to lower level, and the next strong support is not until 6180.
-- If they are able to push NQ back to above 6325 and keep it there after the open on Tuesday it should keep selling under control.
