Tuesday, October 4, 2011

Trade Guideline For Wednesday (Nasdaq NQ)

Massive end of day buy programs triggered by the plunge Protection Team pushed NQ up about 91 points from the day low, closing at the day high. The end of day rally can either continue up or reversed back down on Wednesday.

For Wednesday I will use 2100 as my key Line-in-the-Sand.
  • Above 2100 the rally should continue with 2150-2160 as the next target.
  • Below 2100 the market may go back down to test Tuesday's low.