Tuesday, August 11, 2020

NQ Guideline For Wednesday

NQ rallied in the morning on Tuesday and then sold off off hard in the afternoon into the close.
 
If NQ 3-days downtrend on the daily chart is going to continue down on Wednesday, we should see NQ rallying in the morning and then sell-off in the afternoon.
 
If NQ should trend down in the morning we could see NQ rallying up during lunch and then either continue up in the afternoon or trend back down in the afternoon.
 
Key inflection price level for NQ on Wednesday will be at 10,940
-- If NQ should trade below that level in the morning we could see NQ sell-off in the morning.
-- If NQ trades above 10,940 soon after the open, then we could see NQ rally in the morning and sell-off in the afternoon if the rally does not break above Tuesday swing high.