Tuesday, April 19, 2011

Trade Guideline For Wednesday (Nasdaq NQ)

I will use 2310 as key Line-in-the-Sand for Wednesday.
  • Bullish above, targeting 2320 then 2330. If market internals are extreme bullish then NQ may go up to 2340 - 2350 area.
  • Below 2310, I will be looking for a  retracement of the last two days rally, looking for a decline down to 2395, then 2382 area. If market internals are extreme bearish, then NQ may have to drop down to 2350 before it can get any support.