Monday, March 28, 2011

Trade Guideline for Tuesday (NQ)

On Monday, after spending most of the day inside a trading range, NQ broke down below range low end of day Monday. If the decline is going to continue to tuesday, any rally should stay below FT Pivot 2305.50 and prior trading range low 2309-2312 zone.

I will also use 2309-2313 as key Line-in-the-Sand for Tuesday.
  • Looking for Monday's end of day decline to continue as long as any rally can stay below LIS
  • Above the LIS, I will be looking for a bullish day.