Tuesday, December 19, 2017

NQ Guideline for Wednesday

NQ pullback down from overbought condition on Tuesday and closed down for the day, a down day for NQ on Tuesday.
 
With the tax bill negotiation still ongoing, the stock market should continue to be extremely manipulated on Wednesday and thus could be volatile.
Image result for trump tax bill proposal
However, key price level to watch for on Wednesday for NQ will be 6475 support and 6505 resistance.
 
A sustained break out of he 6475-6505 trading range could trigger a strong move out of the range, especially if the break is to the downside.
 
A break to the upside may trigger a choppy move up as NQ is now still in an overbought conditions.