Sunday, July 10, 2011

Trade Guideline For Monday (Nasdaq NQ)

A consolidation with a bullish close on Friday. Key level to watch for on Monday is 2395.
  • If Monday is going to be a continuation up-day, any pullback down should stay above 2395 area. If so, look for NQ to rally above prior swing high 2430 area, and if it can stay above, may trigger a short-covering rally, rocketing to the next resistance 2460.
  • Below 2395 implies a pullback day on the daily chart. If so look for NQ to potentially drop down to 2360 - 2370 area.