Monday, March 12, 2012

Trade Guideline for Tuesday (NQ)

NQ was basically flat ahead of the FOMC meeting on Tuesday. It may continue to do so until the release of the FOMC minutes in the afternoon. 

Where it trends after the minutes would depend on the level it trades in relation to key inflection level, which is 2645 for Tuesday.
  • Below 2645 implies a decline targeting various support levels, first support is 2615-2620
  • Above 2645 implies the next up-leg is underway, targets 2665, 2675, 2685


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