Trade Guideline for Thursday (NQ)

Another consolidation day on Friday following. Following a two-day consolidation I would be looking for a trending move on Monday,  up or down base on where price action would be in relation to key inflection level.

For Monday I will use 2260 as key inflection level.

• Bullish above 2260, targeting 2280 then 2300.
• Bearish below 2260, targeting a decline down to 240, then 2200.

European debt crisis should continue to intensify, and without a major quantitative easing program debt default is inevitable. Any haircut on Italian bond would cause total banking collapse in Europe (European banks who hold their bond) and the US (US banks sold CDS to the European banks).