Tuesday, May 22, 2012

Trading Guideline For Wednesday (NQ)

Rally continued in the morning but was reversed in the afternoon, then closed in the middle of the day range, forming a doji candlestick pattern on the daily chart. NQ needs to breakout and stay out of the range to trend again, and failure to breakout and stay out implies a choppy consolidation day.
  • Middle range = 2540
  • Support = 2520
  • Resistance = 2560