Wednesday, January 11, 2012

Trade Guideline for Thursday (NQ)

2370 is key inflection point for Thursday.
  • Above 2370 is likely to trigger another round of short-covering rally, pushing price up above the last swing high for another leg up, targeting 2400.
  • Below 2370 implies more consolidation or a larger pullback down to 2355. A clear break below 2355 is likely to run-over stoplosses, pushing price down to the next support 2340. A strong sell-off can push it lower.