Tuesday, May 5, 2020

NQ Guideline For Wednesday

As expected, NQ opened with a gap-up, and then rallied all day until the end of the day due to profit-taking which caused a large decline.
 
Key price level to watch for on Wednesdays is 8900 support, 8970 resistance, 8900-8970 trading range. A breakout of the range could cause a fast move away from the range.
 
NQ seems more likely to to drop below 8900 now support as of Tuesday's close. If so, next support zone is 8780-8820