Monday, October 22, 2012

Trade Guideline For Tuesday (NQ)

Nasdaq traded sideways on Monday following a strong down-trending day on Friday. For Tuesday, depending on where it trades, NQ can continue to consolidate, or resumes its of downtrend.

Point -Of-Control For Tuesday is 2675, 
Resistance 2695, then 2708
First Support is 2665,

A break below 2665 implies a drop down to the next support, and on strong sell-off, it could easily break below 2650