Monday, February 20, 2012

Trade Guideline for Tuesday (NQ)

US and Canadian markets were closed on Monday, and last week Friday was a sideways consolidation day.

For Tuesday, key inflection(S/R) level is 2585.
  • Above 2585 implies the next up leg is in progress targeting a break above prior swing high, which is February 15th swing high.
  • Below 2585 implies more consolidation, a potential decline down to the next support level 2575. Next support below is 2565.
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