Sunday, March 18, 2012

Trading Guideline for Monday (NQ)

Another sideways consolidation day on Friday, the third day in a row. For Monday. we either get another consolidation/pullback day or a breakout short-covering rally, depending how where NQ trades in relation to its key inflection level.

Key inflection S/R level for Monday is 2710.
  • Above 2710 implies another potential trending up short-covering rally.
  • Below 2710 implies continual consolidation/pullback day.
Here is a more realistic chart (compared to the Fed's currency supply chart) of true US currency money supply growth matrix..
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