Monday, August 29, 2011

Trade Guideline for Tuesday (NQ)

Monday was another bullish day with a close near the day high. For Tuesday the uptrend should continue as long as any pullback can stay above 2200.
  • Above 2200, a potential upside target is 2260 area, a level where the second up-leg would equal the first up-leg on the daily chart.
  • However, a sustained break below 2200 implies a potential tank down to 2170.