Monday, April 23, 2012

Trade Guideline for Tuesday (NQ)

NQ open gap-down then trend down in the morning, reversed and then trend up the rest of the day, closing near the day high.

Key level to watch for Tuesday is Monday's swing low.
  • Staying above Monday's low implies it is in a pullback mode, rally up to 2670-2680 resistance, or staying inside a trading range between Monday's low and 2670 resistance.
  • Staying below Monday's low implies another large down-trending day.