Tuesday, January 31, 2012

Trade Guideline For Wednesday (Nasdaq NQ)

Nasdaq 100 futures made a higher-high above last Thursday swing high with a large gap-up open on Tuesday, but the broader market index S&P 500 did not made a high-high. The current uptrend is slowing down and likely going for a larger decline, a reversal-down.

Key level for NQ on Wednesday is 2455.
  • Above 2455 implies NQ's uptrend is still in progress.
  • Below 2255 implies larger decline or potentially the beginning of a reversal from up-trend to downtrend on the daily chart. 
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