Sunday, March 11, 2012

Trading Guideline for Monday (NQ)

NQ spent the whole day on Friday, consolidating, moving in a sideways fashion. On Monday it either breakout and re-trend back up, or continue to pullback down to support zones.

Key inflection point on Monday is 2650.
  • Above 2650 implies the next up-leg is in progress, targeting 2660.
  • Below 2650 implies it is still in a pullback mode, decline target 2330, then 2315.
Market is still focusing on Greek debt SWAP