Thursday, March 8, 2012

Trade Guideline for Friday (NQ)

Another up-day in the equity markets today with NQ gaping-up at the open and then trending up all day, closing near the day high and just below key inflection point for Friday. That key level is 2640.
  • Above 2640 implies the trend that started at the open on Thursday is still in progress targeting a break above 2650.
  • Below 2640 implies NQ is going into a pullback mode, a decline targeting 2625 or 2615. 

Greek Debt SWAP drama continues to dominate the financial news out of Europe