Wednesday, March 9, 2011

Trade Guideline for Thursday

Wednesday was a consolidation day, so I would expect the market to trend on Thursday, and the direction would depends on the opening price action.

For NQ I will use 2310 as Key Line-in-the-Sand. 

  • Bearish below 2310, hence looking for the market to trend down to 2295 as first target down, then 2285 then 2275 and 2265. 
  • Bullish above 2210, targeting 2230, then 2245