Monday, January 23, 2012

Trade Guideline for Tuesday (NQ)

Another ranging consolidation day on Monday. Key inflection level for Tuesday is 2435.
  • Above 2435 implies a re-test of Monday high, either lower high or higher high. A lower high implies it may want to reverse back down and tank.
  • Below 2435 implies the next down-leg is in progress, with first target down is a re-test of Monday's swing low. A clear break below Monday low may run-over some stop-loss, and has the potential to trigger a fast liquidation drop, targeting 2400 or lower.

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