Monday, December 2, 2019
NQ Guideline For Tuesday
The market sold off hard on Monday from overbought situation, the trigger was Trump trade war rhetoric.
NQ morning selloff over-shot the 20-dma to the downside on the daily chart on Monday but it closed just above the 20-dma on Monday, making the 20-dma on the daily chart, now at around 8300, a key line-in-the-sand on Tuesday and going forward.
Key intraday inflection price level for NQ on Tuesday will be 8320
-- Above 8320 we could see short-covering, with first resistance at 8360.
-- Trading below 8320 is bearish, but key support is now at 8300.
NQ morning selloff over-shot the 20-dma to the downside on the daily chart on Monday but it closed just above the 20-dma on Monday, making the 20-dma on the daily chart, now at around 8300, a key line-in-the-sand on Tuesday and going forward.
Key intraday inflection price level for NQ on Tuesday will be 8320
-- Above 8320 we could see short-covering, with first resistance at 8360.
-- Trading below 8320 is bearish, but key support is now at 8300.