Sunday, February 5, 2012

Trading Guideline for Monday (NQ)

NQ rallied to potential resistance on Friday (2530) then traded sideways for the rest of the day. For Monday the key inflection level is 2525.
  • Above 2525 implies more short-covering rally, targeting a move up to 2540. If that does not stop the rally the next upside target is 2580.
  • Below 2525 implies it is in a pullback mode, targeting a decline down to 2510 -2500.