Monday, May 21, 2012

Trade Guideline For Tuesday (NQ)

A sharp short-covering rally on Monday, a pullback day on the daily chart, closing at the day high. This type of day is usually followed by another rally day as long as pullback remains above key level.

Key Level for Tuesday is  2520
  • Above 2520 implies short-covering rally should continue.
  • Below 2520 implies a re-test of Monday's swing low.