Tuesday, July 24, 2012

Trade Guideline For Wednesday

On Tuesday NQ opened near key resistance and then decline all day, down to key support. NQ has broken below key support after the close, subsequent to the release of Apple's earning reports. 

Key support for Wednesday is 2545.
  • A sustained break below 2545 after the open on Wednesday can trigger a liquidation decline. Support levels below 2545 are 2537, 2517, 2505, 2465, 2440
  • Above 2545 implies more consolidation with first resistance at 2585-290
Spain's bankruptcy is now a certainty, and imminent.