Tuesday, May 24, 2011

Trade Guideline For Wednesday (Nasdaq NQ)

Tuesday was a third consecutive down days, hence Wednesday is likely a reversal-up day. If so, price should open gap-down or trend down in the morning then find support and reverse up to close at or near the high of the day.

Key level to watch for is the opening price. Target down are 2390 to 2380. On a very bearish day the next downside targets are 2360 then 2350.
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