Wednesday, June 6, 2012

Trade Guideline For Thursday (NQ)

A large gap-up open on Wednesday triggered a short-covering rally that lasted the whole trading day. This type of day is often followed by a higher high the following day, occurring in the morning or later during the day.

Key Level For Thursday is 2535.
  • Above 2535 implies the uptrend is still in progress. Resistances are 2545, 2570, 2585
  • Below 2535 implies it is going into a pullback/consolidation mode.