Tuesday, March 27, 2012

Trade Guideline For Wednesday (Nasdaq NQ)

A narrow-range continuation uptrending day on Tuesday with a small profit-taking decline at the end of the day. On Wednesday I am looking for consolidation day unless it can stay above 2785.

Key level for Wednesday is 2785.
  • Below 2785 implies it is going into consolidation / pullback mode.
  • Above 2785 implies another leg up is in progress, targeting 2800.