Monday, September 5, 2011

Trade Guideline for Tuesday (NQ)

With worse than expected employment report released last Friday the Fed will from now going forward be more aggressive with their market intervention activities. How successful would they be is difficult to say as credit crunch is starting to intensify.

  • Key resistance for Tuesday is 2200. Above 2200 short-covering can easily push price back up to test August swing high.
  • Key support is 2100, a sustained break below can cause a liquidation decline that can easily break August swing low.