Tuesday, February 14, 2012

Trade Guideline For Wednesday (Nasdaq NQ)

Another consolidation day, dropping down to first support, then rally at the end of day.

For Wednesday key inflection point is 2565.
  • Above 2565 implies the next leg up is in progress, targeting a move up to 2585. If that does not stop the rally, then the next target up is 2595-2600.
  • Below 2565 implies it is going into a pullback mode, with a pullback target down to 2555. If that does not stop the decline, next downside target is 2545.