Wednesday, June 29, 2011

Trade Guideline for Thursday (NQ)

Wednesday was a sideways narrow-range consolidation day. Thursday may either be another consolidation day ahead of the long weekend holidays or a trending up/down day.

Key S/R level for Thursday's trading session is 2300.
  • Bullish short-covering day above 2300 level, targeting a move up to 2330-2340.
  • A consolidation or trending down day below 2300, targeting a decline down to 2270.