Sunday, October 7, 2012

Trade Guideline For Monday

A gap-up open reversal day on Friday, retracing the prior 2-day rally.

Key Level to watch on Monday is 2815.
--- Above 2815 implies Friday down-wave has ended, and in a rally mode. Resistances are 2825, 2830 and 2838.
--- Below 2815 implies Fridays decline is still in progress, downside supports are 2800, 2790, 2781, 2772

Monday is a Columbus Day holiday in the US, and the Bond market will be closed, hence be prepared for a possible narrow-range choppy day.