Sunday, May 22, 2011

Trade Guideline For Monday (Nasdaq NQ)

Following a 3-day rally, NQ close in a negative territory on Friday. Should there be a follow-through to the downside on Monday, on any rally, price should stay below key resistance level of 2360.

  • If so, it should break below key support level of 2335, then below Wednesday's swing low.
  • Should price breaks above2360, it can trigger a short-covering rally targeting 2385 to 2395.