Sunday, March 4, 2012

Trading Guideline for Monday (NQ)

A sideways consolidation day on Friday following an up day on Thursday. On Monday NQ either continue to consolidate sideways to down or breaking to another higher high above Friday's high depending on where it trades in relation to key inflection point, which is 2640 for Monday.
  • Above 2640 implies the next leg up is in progress targeting a break above Friday swing high to 2655-2660.
  • Below 2640 implies it is in consolidation/pullback mode, targeting 2615-2625.