Wednesday, March 21, 2012

Trade Guideline for Thursday (NQ)

Profit-taking decline at the end of an up-trending day broke below key trend support level 2745. 
  • For Thursday, as long a it stays below broken support now resistance, 2745, NQ will be in a pullback/consolidation mode.
  • A re-break back above 2745 implies the next upleg is in progress, targeting a break above Wednesday's swing high.