Wednesday, May 9, 2012

Trade Guideline For Thursday (NQ)

Another sideways consolidation day on Wednesday closing right in the middle of a narrow trading range between 2610 support and 2635 resistance.

For Thursday, a sustained break out of the range could cause a fast trending move out of the range.
  • Above 2635 implies potential fast short-covering rally.
  • Below 2610 implies liquidation decline down.