Tuesday, May 17, 2011

Trade Guideline For Wednesday (Nasdaq NQ)

NQ found support at Tuesday's 2318 low to close near the high of the day --> a reversal day. I will use the closing price of 2338.50 as Wednesday's Line-in-the-Sand.

  • Above the close implies a bullish day targeting 2365, then 2375 area.
  • Below the close implies bearish day, targeting test of Tuesday's low of 2318, then 2292
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