Monday, April 2, 2012

Trade Guideline for Tuesday (NQ)

NQ trended up all day on Monday. It broke above its key resistance late morning session and continue to trend up all day, with a small end of day profit-taking pullback. 

Key support for Tuesday will be 2775.
  • Staying above 2775 implies the uptrend that started on Monday is still in progress.
  • Sustained break below 2775 implies it is going into a pullback / consolidation, downside target is 2755-2765.