Sunday, September 18, 2011

Trade Guideline For Monday (Nasdaq NQ)

Nasdaq closed right at the day high on Friday implying the shorts had covered into the close. If the current uptrend on the 5-minute chart is going to continue, any pullback down should stay above key level at 2290.
  • Below 2290 implies the market is in a bearish mode and point to a down-day on Monday. If so, target down are 2275, 2260 and 2245
  • Above 2290 implies the market is still in a bullish mode, targeting a rally up to 2320 then 2360-2370
Nasdaq NQ 5-minute chart