Sunday, July 8, 2012

Trade Guideline For Monday

Friday was a large gap-down and trend-down day with some profit-taking rally to end the day. Monday is likely a consolidation day trading between 2625 resistance and 2595 support (2595 - 2625 trading range). However, a sustained break out of the range could trigger a fast trending move in the direction of the break.

ES POC = 1344.75, Upper VA = 1349.75, Lower VA = 1344.25
NQ POC = 2598.00, Upper VA = 2611, Lower VA = 2593

Key Level For NQ is 2600.
--->> Bullish above 2600, the first upside target is 2625.
--->> Bearish below 2600, downside target is 2590, but a sustained break below 2590 could cause a liquidation drop to 2560.