Sunday, February 27, 2011
Trade Guideline For Monday (Nasdaq NQ)
After a trending up day last Friday, I will be looking for a non-trending choppy Monday, and for the market to do the following:
1. Trend up in the morning then reversed back down in the afternoon.
Resistance Levels and upside Targets are:
(a) 2355,
(b) 2365,
(c) 2375 (Strong Resistance)
2. Trend down in the morning then reversed back up in the afternoon.
Support Levels and Targets to the downside are:
(a) 2340 - FT Pivot
(b) 2335,
(c) 2320 - Breakout Level (Strong Support)
My Line-in-the-Sand / Inflection Points is 2345
1. Trend up in the morning then reversed back down in the afternoon.
Resistance Levels and upside Targets are:
(a) 2355,
(b) 2365,
(c) 2375 (Strong Resistance)
2. Trend down in the morning then reversed back up in the afternoon.
Support Levels and Targets to the downside are:
(a) 2340 - FT Pivot
(b) 2335,
(c) 2320 - Breakout Level (Strong Support)
My Line-in-the-Sand / Inflection Points is 2345