Sunday, August 9, 2020

NQ Guideline For Monday

A down day for NQ on Friday, with the open closer to the high and the close closer to the low, and at key line-in-the-sand for Monday.
 
With the low on Friday bouncing off prior swing high-now support, NQ would need to break below 10,980 to trigger massive selling.
 
Staying above 10,980, NQ is likely to either trade sideways or rally back up to the Thursday/Friday high.
 
NQ needs to break above 11,130 to trigger another round of short-covering.
-- Below it, NQ would simply trade sideways unless it breaks below 10,980.