Tuesday, January 17, 2012

Trade Guideline For Wednesday (Nasdaq NQ)

Markets opened gap-up, but stalled at resistance. For NQ that resistance was 2400, and 1300 for the S&P futures.
2400 become key resistance for Wednesday, and 2380 as key support.
  • Above 2400 implies the next leg up is in progress, and next resistance up is 2425.
  • Below 2400 implies NQ is in a consolidation or a pullback mode, targeting next support 2380, then 2365